April 15, 2026
Instituted in 1862, the first U.S. income tax was 3 percent or 5 percent, depending on the amount of income. This proved wildly unpopular, was scaled back, and then ultimately repealed 10 years later. From 1868 until 1913, 90 percent of all government revenue instead came from taxes on liquor, beer, wine, and tobacco.
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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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