Date: 01/19/2010

Federal Corporate Tax Rates for 2010

The general federal corporate tax rate and the rate applied to income from manufacturing and processing will be reduced from 19% to 18%, effective January 1, 2010.

The small business tax rate remains at 11%, and the federal small business limit is unchanged at $500,000.

The general corporate tax rate change will be prorated for corporations having non-calendar-year year ends.