ON – 2011 Corporate Tax Rates

Effective January 1, 2011, Ontario will levy a general corporate tax rate of 12%, with that rate currently scheduled to be reduced to 11.5% effective July 1, 2011.The small business threshold is $500,000,   and qualifying small business income under that threshold is taxed at a rate of 4.5%. The tax rate applied to qualifying manufacturing and processing income is 10%.

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