Corporation Tax Calculator
Calculate corporate income tax for UK, US, Ireland, Germany, Singapore, Australia, or a custom rate — showing net profit after tax and effective rate.
Frequently Asked Questions
What is the UK Corporation Tax rate in 2024?
UK Corporation Tax 2024: 25% main rate for profits ≥ £250,000. Small Profits Rate of 19% for profits ≤ £50,000. Marginal relief gradually increases the effective rate from 19% to 25% between £50,000 and £250,000. The formula: tax = profits × 25% − marginal relief fraction × (£250,000 − profits).
What is the US corporate income tax rate in 2024?
The US federal corporate tax rate is a flat 21% (set by the 2017 Tax Cuts and Jobs Act). State corporate taxes range from 0% (Nevada, Wyoming) to 11.5% (New Jersey), averaging about 4%. The combined federal + state effective rate is typically 25–28% for most US companies.
What is the corporate tax rate in Ireland and why is it so popular?
Ireland applies a 12.5% corporation tax rate on trading (active business) income — one of the lowest in the EU, which has attracted major tech and pharmaceutical companies. A 25% rate applies to passive income. Ireland has agreed to implement the OECD 15% global minimum tax for large multinationals from 2024.
What is the difference between accounting profit and taxable profit?
Accounting profit is calculated per accounting standards (GAAP/IFRS). Taxable profit is adjusted for tax purposes: depreciation is replaced by capital allowances, certain expenses are disallowed (entertainment, fines), and timing differences arise from stock valuation and provisions. Corporation tax is calculated on taxable profit, not accounting profit.
What is the global minimum corporate tax and who is affected?
The OECD Pillar Two global minimum tax requires large multinationals (€750M+ revenue) to pay at least 15% tax in each country they operate from 2024. If a jurisdiction charges less than 15%, the parent company's home country can "top up" the tax. This aims to reduce profit shifting to low-tax jurisdictions.