Transparency - Business Taxes
Dashboard information for Business Enterprise Tax and Business Profits Tax.
The Business Enterprise Tax (BET) was enacted in 1993. The tax is assessed on the taxable enterprise value tax base, which is the sum of all compensation paid or accrued, interest paid or accrued, and dividends paid by the business enterprise. The tax rate is 0.55% for taxable periods ending on or after December 31, 2022. The BET paid may be used as a credit against the BPT.
The Business Profits Tax (BPT) was enacted in 1970. The tax is assessed on the taxable business profits of business organizations conducting business activity within the state. The tax rate is 7.6% for taxable periods ending on or after December 31, 2022, and 7.5% for taxable periods ending on or after December 31, 2023.