Corporate income taxes fell from 32% of receipts in 1952 to 8.6% in FY2025

Source. OMB Historical Tables, FY2027 edition (April 2026), Table 2.1 and Table 2.5; Table 1.1 and Table 10.1. Fiscal years 1934–2025, with OMB estimates to 2031; as a share of GDP 1940–2025.

Method and data

Method. Receipts by source from OMB Table 2.1 (individual income taxes, corporation income taxes, social insurance and retirement receipts, excise taxes, other) and Table 2.5 (customs duties, estate and gift taxes and miscellaneous receipts, which make up “other”; Table 2.5 begins in 1940, so 1934–1939 carry “other” whole). Each source is shown as a share of total receipts, 1934–2031 with OMB’s estimates from 2026, and as a share of GDP, 1940–2025: its share of receipts times total receipts as a percent of GDP (Tables 1.1 and 10.1). Dollar amounts ($m) are in the CSV.

Fiscal year	Basis	Individual (%)	Payroll (%)	Corporate (%)	Excise (%)	Customs (%)	Estate and gift (%)	Misc. (%)	Other, 1934–39 (%)	Receipts (% of GDP)
1934	OMB	14.21	1.02	12.32	45.82				26.67
1935	OMB	14.6	0.86	14.66	39.87				30.04
1936	OMB	17.18	1.33	18.33	41.58				21.59
1937	OMB	20.27	10.77	19.27	34.82				14.87
1938	OMB	19.05	22.83	19.06	27.6				11.45
1939	OMB	16.35	25.31	17.9	29.72				10.72
1940	OMB	13.62	27.26	18.28	30.19	5.05	5.39	0.21		6.67
1941	OMB	15.08	22.27	24.38	29.29	4.19	4.63	0.16		7.5
1942	OMB	22.3	16.76	32.25	23.23	2.52	2.87	0.08		9.91
1943	OMB	27.1	12.68	39.82	17.07	1.28	1.84	0.21		13
1944	OMB	45.04	7.94	33.92	10.88	0.95	1.16	0.11		20.46
1945	OMB	40.68	7.64	35.4	13.87	0.76	1.41	0.23		19.95
1946	OMB	40.97	7.93	30.24	17.81	1.08	1.7	0.28		17.24
1947	OMB	46.57	8.89	22.37	18.72	1.24	2	0.22		16.12
1948	OMB	46.47	9.03	23.29	17.7	0.97	2.14	0.4		15.87
1949	OMB	39.46	9.59	28.4	19.03	0.93	1.98	0.61		14.25
1950	OMB	39.94	11	26.49	19.14	1.03	1.77	0.63		14.15
1951	OMB	41.88	10.99	27.32	16.75	1.18	1.37	0.51		15.78
1952	OMB	42.22	9.74	32.08	13.38	0.81	1.24	0.54		18.53
1953	OMB	42.83	9.8	30.51	14.19	0.86	1.27	0.54		18.22
1954	OMB	42.38	10.34	30.27	14.27	0.78	1.34	0.62		18
1955	OMB	43.92	12.01	27.29	13.95	0.89	1.41	0.52		16.11
1956	OMB	43.15	12.5	27.99	13.31	0.91	1.56	0.57		17.02
1957	OMB	44.53	12.5	26.46	13.17	0.92	1.71	0.72		17.26
1958	OMB	43.6	14.11	25.21	13.36	0.98	1.75	0.99		16.82
1959	OMB	46.33	14.79	21.84	13.35	1.17	1.68	0.84		15.71
1960	OMB	44.02	15.87	23.24	12.62	1.19	1.74	1.31		17.31
1961	OMB	43.8	17.42	22.2	12.57	1.04	2.01	0.97		17.27
1962	OMB	45.72	17.1	20.59	12.57	1.15	2.02	0.85		17.02
1963	OMB	44.66	18.58	20.25	12.38	1.13	2.03	0.96		17.24
1964	OMB	43.24	19.5	20.86	12.19	1.11	2.13	0.96		17.02
1965	OMB	41.77	19.04	21.8	12.47	1.23	2.33	1.36		16.47
1966	OMB	42.38	19.53	22.99	9.98	1.35	2.34	1.43		16.76
1967	OMB	41.34	21.92	22.83	9.22	1.28	2	1.42		17.79
1968	OMB	44.93	22.18	18.74	9.2	1.33	1.99	1.63		17.04
1969	OMB	46.69	20.88	19.63	8.15	1.24	1.87	1.56		19.06
1970	OMB	46.89	23.01	17.03	8.15	1.26	1.89	1.78		18.42
1971	OMB	46.08	25.29	14.31	8.88	1.38	2	2.06		16.76
1972	OMB	45.7	25.36	15.52	7.47	1.59	2.62	1.75		17.04
1973	OMB	44.73	27.35	15.66	7.05	1.38	2.13	1.7		17.06
1974	OMB	45.19	28.52	14.67	6.4	1.27	1.91	2.04		17.75
1975	OMB	43.85	30.29	14.55	5.93	1.32	1.65	2.4		17.37
1976	OMB	44.15	30.45	13.89	5.69	1.37	1.75	2.69		16.69
1977	OMB	44.33	29.95	15.44	4.94	1.45	2.06	1.84		17.56
1978	OMB	45.3	30.27	15	4.6	1.65	1.32	1.86		17.58
1979	OMB	47.02	29.99	14.18	4.05	1.61	1.17	2		18.06
1980	OMB	47.2	30.52	12.49	4.7	1.39	1.24	2.47		18.52
1981	OMB	47.71	30.49	10.2	6.81	1.35	1.13	2.3		19.13
1982	OMB	48.2	32.62	7.97	5.88	1.43	1.29	2.62		18.64
1983	OMB	48.11	34.8	6.16	5.88	1.44	1.01	2.6		16.98
1984	OMB	44.78	35.92	8.54	5.61	1.71	0.9	2.55		16.88
1985	OMB	45.57	36.12	8.36	4.9	1.65	0.87	2.52		17.21
1986	OMB	45.37	36.91	8.21	4.28	1.73	0.9	2.59		16.99
1987	OMB	45.95	35.51	9.82	3.8	1.77	0.88	2.28		17.92
1988	OMB	44.12	36.77	10.39	3.87	1.78	0.84	2.22		17.69
1989	OMB	44.97	36.26	10.42	3.47	1.65	0.88	2.35		17.84
1990	OMB	45.24	36.83	9.06	3.43	1.62	1.11	2.71		17.49
1991	OMB	44.34	37.54	9.3	4.02	1.51	1.06	2.23		17.31
1992	OMB	43.62	37.91	9.19	4.18	1.59	1.02	2.49		17.01
1993	OMB	44.15	37.1	10.18	4.16	1.63	1.09	1.68		17.04
1994	OMB	43.15	36.67	11.15	4.39	1.6	1.21	1.84		17.54
1995	OMB	43.66	35.84	11.61	4.25	1.43	1.09	2.11		17.88
1996	OMB	45.18	35.06	11.83	3.72	1.28	1.18	1.76		18.27
1997	OMB	46.7	34.15	11.54	3.6	1.14	1.26	1.61		18.69
1998	OMB	48.13	33.21	10.96	3.35	1.06	1.4	1.89		19.28
1999	OMB	48.13	33.48	10.11	3.85	1	1.52	1.91		19.28
2000	OMB	49.6	32.24	10.24	3.4	0.98	1.43	2.11		20.02
2001	OMB	49.94	34.85	7.59	3.33	0.97	1.43	1.89		18.92
2002	OMB	46.32	37.81	7.99	3.61	1	1.43	1.83		17.11
2003	OMB	44.53	40	7.39	3.79	1.11	1.23	1.94		15.8
2004	OMB	43.03	39.01	10.07	3.72	1.12	1.32	1.73		15.63
2005	OMB	43.05	36.87	12.92	3.39	1.09	1.15	1.52		16.77
2006	OMB	43.37	34.81	14.7	3.07	1.03	1.16	1.85		17.65
2007	OMB	45.31	33.86	14.42	2.53	1.01	1.01	1.85		17.95
2008	OMB	45.39	35.66	12.06	2.67	1.09	1.14	1.98		17.06
2009	OMB	43.48	42.32	6.57	2.97	1.07	1.12	2.48		14.55
2010	OMB	41.55	39.99	8.85	3.09	1.17	0.87	4.48		14.53
2011	OMB	47.38	35.55	7.86	3.14	1.28	0.32	4.46		14.89
2012	OMB	46.21	34.5	9.89	3.23	1.24	0.57	4.36		15.21
2013	OMB	47.44	34.15	9.86	3.03	1.15	0.68	3.7		16.63
2014	OMB	46.15	33.87	10.61	3.09	1.12	0.64	4.51		17.34
2015	OMB	47.41	32.78	10.58	3.02	1.08	0.59	4.54		17.89
2016	OMB	47.31	34.12	9.17	2.91	1.07	0.65	4.77		17.53
2017	OMB	47.86	35.04	8.96	2.53	1.04	0.69	3.89		17.12
2018	OMB	50.56	35.16	6.15	2.85	1.24	0.69	3.35		16.29
2019	OMB	49.6	35.89	6.65	2.86	2.04	0.48	2.48		16.27
2020	OMB	47.02	38.29	6.19	2.54	2	0.52	3.44		16.03
2021	OMB	50.51	32.47	9.19	1.86	1.98	0.67	3.32		17.56
2022	OMB	53.75	30.29	8.68	1.79	2.04	0.66	2.79		19.16
2023	OMB	49.01	36.35	9.45	1.71	1.81	0.76	0.91		16.21
2024	OMB	49.31	34.74	10.77	2.06	1.57	0.64	0.91		17
2025	OMB	50.72	33.39	8.63	2.02	3.72	0.56	0.95		17.27
2026	OMB estimate	48.03	33.78	7.28	1.93	7.42	0.65	0.91
2027	OMB estimate	48.46	32.67	7.43	1.81	7.84	0.71	1.08
2028	OMB estimate	48.88	32.66	7.24	1.71	7.62	0.72	1.16
2029	OMB estimate	49.25	32.41	7.23	1.66	7.51	0.71	1.23
2030	OMB estimate	49.94	31.89	7.23	1.58	7.34	0.72	1.28
2031	OMB estimate	50.3	31.68	7.15	1.5	7.3	0.72	1.33

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Higgins Strategy. “Corporate income taxes fell from 32% of receipts in 1952 to 8.6% in FY2025” Exhibit 7, The Debt, the Waste and the Tax (Study X). October 12, 2026. https://higginsstrategy.com/charts/10-02-receipts-by-source-1934-2031/