Federal corporate tax rates for 2011 (January 2011)

The general federal corporate tax rate and the rate applied to income from manufacturing and processing will be reduced from 18.00% to 16.50%, effective January 1, 2011.

The small business tax rate remains at 11.0% and the federal small business limit is unchanged at $500,000.

The general corporate tax rate change will be pro-rated for corporations having non-calendar-year year-ends.