What is the tax rate for exempt organizations?

What is the tax rate for exempt organizations?

Exempt organizations may be formed as either a corporation or a trust. Therefore, exempt organizations pay both regular income tax and the Personal Property Tax Replacement Income Tax (replacement tax), but the rates differ.

Corporations

• Income Tax - 7% (4.8% for tax years ending on or before 12-31-2010)
• Replacement Tax - 2.5%

Trusts

• Income Tax - 5% (3% for tax years ending on or before 12-31-2010)
• Replacement Tax - 1.5%

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