The decline in corporate income tax revenue has nothing to do with corporations’ ability to pay: Pre- and post-tax profit margins in the nonfinancial corporate sector, 1979–2020
| Year | Pre-tax | Post-tax |
|---|---|---|
| 1979 | 13.55% | 7.71% |
| 1980 | 10.96% | 5.86% |
| 1981 | 11.97% | 7.39% |
| 1982 | 10.38% | 7.14% |
| 1983 | 11.80% | 8.15% |
| 1984 | 13.68% | 9.43% |
| 1985 | 13.02% | 9.27% |
| 1986 | 10.26% | 6.73% |
| 1987 | 10.81% | 6.60% |
| 1988 | 11.45% | 7.12% |
| 1989 | 10.00% | 6.07% |
| 1990 | 8.98% | 5.55% |
| 1991 | 9.05% | 5.86% |
| 1992 | 9.24% | 6.08% |
| 1993 | 10.64% | 7.15% |
| 1994 | 12.89% | 8.55% |
| 1995 | 13.57% | 9.22% |
| 1996 | 14.52% | 10.11% |
| 1997 | 14.94% | 10.37% |
| 1998 | 13.04% | 9.09% |
| 1999 | 11.95% | 8.10% |
| 2000 | 9.58% | 6.09% |
| 2001 | 7.53% | 5.44% |
| 2002 | 9.37% | 7.50% |
| 2003 | 11.47% | 8.83% |
| 2004 | 14.09% | 10.35% |
| 2005 | 15.69% | 10.55% |
| 2006 | 17.15% | 11.60% |
| 2007 | 14.82% | 9.86% |
| 2008 | 12.68% | 9.25% |
| 2009 | 11.43% | 8.61% |
| 2010 | 15.30% | 11.67% |
| 2011 | 15.84% | 12.26% |
| 2012 | 16.69% | 12.61% |
| 2013 | 17.09% | 12.92% |
| 2014 | 16.89% | 12.55% |
| 2015 | 15.94% | 11.95% |
| 2016 | 14.80% | 11.26% |
| 2017 | 14.38% | 11.39% |
| 2018 | 15.13% | 12.51% |
| 2019 | 14.58% | 12.15% |
| 2020 | 14.91% | 12.58% |
Note: Profit margins are defined here as unit profits (profits per dollar of output) divided by all other unit costs.
Source: National Income and Product Accounts Table 1.14 from the Bureau of Economic Analysis.