2023 Corporate Income Tax Rates
The federal general rate is net of the 10% federal tax abatement and 13% (2012 and later years) general rate reduction.
The corporate tax rate for personal services businesses (PSBs) has been 33% since January 1, 2016. If you are incorporated, provide services, and employ 5 or fewer employees, you may be a personal services business (incorporated employee), which means higher corporate tax rates and limited expense deductions.
| 2023 Corporate Income Tax Rates | ||||
| Active Business Income | Investment Income CCPC | |||
| General | Small Business (CCPC) | Business Limit | ||
| Federal | 15% | 9% | $500,000 | 38.7% |
| Alberta | 8% | 2% | $500,000 | 8% |
| BC | 12% | 2% | $500,000 | 12% |
| Manitoba | 12% | zero% | $500,000 | 12% |
| New Brunswick | 14% | 2.5% | $500,000 | 14% |
| Newfoundland & Labrador (1) | 15% | 3% | $500,000 | 15% |
| Nova Scotia (2) | 14% | 2.5% | $500,000 | 14% |
| Northwest Territories (1) | 11.5% | 2% | $500,000 | 11.5% |
| Nunavut (1) | 12% | 3% | $500,000 | 12% |
| Ontario | 11.5% | 3.2% | $500,000 | 11.5% |
| Prince Edward Island (1) | 16% | 1% | $500,000 | 16% |
| Quebec (3) | 11.5% | 3.2% | $500,000 | 11.5% |
| Saskatchewan (4) | 12% | zero% / 1% | $600,000 | 12% |
| Yukon | 12% | zero% | $500,000 | 12% |
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