Ocean Mist

Posted by Tax Consultants

Corporate tax rates

  Federal corporate tax rates for 2011 (January 2011)

The general federal corporate tax rate and the rate applied to income from manufacturing and processing will be reduced from 18.00% to 16.50%, effective January 1, 2011.

The small business tax rate remains at 11.0% and the federal small business limit is unchanged at $500,000.

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