April 14, 2025
The first U.S. income tax was levied in 1862 as a means to finance the American Civil War. It proved unpopular and was repealed in 1872.
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Corporate Tax Rate
The U.S. federal corporate income tax was first implemented in 1909, when the uniform rate was 1 percent for all business income above $5,000. The rate peaked at 52.8 percent in 1969 and has since fallen. The corporate tax rate was changed on Jan. 1, 2018, from a tiered structure that staggered
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