As the world of federal tax was shaken up by the passage of the Tax Cuts and Jobs Act of 2017, U.S. tax departments across the country continue to adjust. One of the main pieces of the new tax bill is the lowered corporate tax rate, which had not been adjusted since the 1980s. On the state level, however, corporate income taxes typically see yearly changes that should be noted. Because the Tax Cuts and Jobs Act affects all states, states have further impetus to evaluate their own tax codes. Below are some important state-level rate adjustments in 2018.
