State Corporate Income Tax Legislation to Watch in 2024
February 27, 2024 | Andrew Jones, Ryan Maness
This year we’re seeing lawmakers in several states float plans to change their state’s corporate income tax structure, even though it’s an election year. Many states are facing budgetary pressures and are turning to corporate income tax increases to fill the gap. Other states pursuing tax hikes are doing so to fund future infrastructure funding plans. On the flip side, a handful of states are proposing decreases to their corporate income taxes, in many cases to follow through on the policy priorities or campaign promises of the governor. Here are the states to watch that we think are most likely to change their corporate income tax rates over the next two years (plus a few we don’t see panning out).