U.S. Corporate Tax Receipts Drop 16% to $381.4 Billion in Fiscal 2026

U.S. corporate income tax receipts fell 16% to $381.4 billion in fiscal 2026, even as overall federal revenue rose and faster growth in spending widened the budget deficit. Corporate tax collections were $452.1 billion in fiscal 2025, making the decline $70.7 billion. The 2026 fiscal year ended Sept. 30. Individual income tax receipts moved in the opposite direction, rising to $2.85 trillion from $2.66 trillion. Total federal receipts increased to $5.40 trillion from $5.23 trillion, despite the drop in corporate collections. A tax law passed in 2025 expanded the immediate deductions available for certain business investments. Federal spending climbed to $7.40 trillion from $7.01 trillion. With outlays growing faster than receipts, the federal budget deficit widened to $1.99 trillion from $1.78 trillion in fiscal 2025.

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