At a glance

***Corporate Income Tax Rate (%) 21 (a)

***Corporate Capital Gains Tax Rate (%) 21

***Branch Tax Rate (%) 21 (a)

Withholding Tax (%) (b)

***Dividends 30 (c)

Interest 30 (c)(d)

***Royalties from Patents, Know-how, etc. 30 (c)

Branch Remittance Tax 30 (e)

Net Operating Losses (Years)

Carryback 0 (f)

Carryforward Unlimited (f)

(a) The 21% rate is effective for tax years beginning after 31 December 2017. In addition, many states levy income or capital-based taxes. A base erosion minimum tax is also imposed on corporations. See Section B.

(b) Rates may be reduced by treaty.

(c) Applicable to payments to non-US corporations and nonresidents.

(d) Interest on certain “portfolio debt” obligations issued after 18 July 1984 and non-effectively connected bank deposit interest are exempt from withholding tax.

(e) This is the branch profits tax applicable to non-US corporations (see Section D).

(f) A net operating loss deduction is generally limited to 80% of taxable income. Special rules apply to certain types of losses and entities. For details, see Section C.