Competitive corporate taxes
Alberta has one of the most competitive tax environments in North America. It is the only province that does not have a provincial retail sales tax and there are no provincial capital or payroll taxes, which are common in many other provinces and U.S. states.
The combined federal/provincial corporate income tax rate is 25% for general businesses and 14% for small businesses and a competitive corporate tax rate is in place for manufacturers.
|Province||General||Mfg & Processing||Small Business|
|Newfoundland & Labrador||14.0||5.0||4.0|
|Prince Edward Island||16.0||16.0||4.5|
|State||General||Mfg & Processing||Small Business|
Rates as of January, 2014.
- The small business rate is the effective tax rate for US $466,066 (comparable to the Canadian threshold of Cdn $500,000)
- The small business income threshold for Nova Scotia and Manitoba is Cdn $350,000 and $400,000, respectively. For all other provinces the small business income threshold is Cdn $500,000
Source: Canada Revenue Agency, Federation of Tax Administrators
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Date Updated: Mon, 28 Jul 2014 02:45:03