Tax Policy Center

Fiscal Facts

March 19, 2018
Top 6 States for Business Income Tax Collections
In 2016, federal business tax collections (almost entirely corporate income taxes) were $345 billion. Nearly half came from businesses in just 6 states (CA, NY, NJ, MN, IL, TX). MN’s share of the total (5.7%) was more than 3 times its share of national retail trade or population.