U.S. corporate profitability accelerated in 2018 growing at 16% … or 8%

U.S. corporations made a record $2.03 trillion in profits after taxes in 2018,

US corporate profits after tax 2008 to 2018


That means U.S. corporate profits after taxes grew 16.2% in 2018,

US corporate profits after tax 2008 to 2018 annual growth

Profit before taxes were $2.26 trillion in 2018,

US corporate profits before tax 2008 to 2018

This means profitability before taxes grew 7.8% in 2018, not a bad growth rate but not as phenomenal as 16.2% after taxes. More than half of the growth in profit after taxes was down to tax cuts.

US corporate profits before tax 2008 to 2018 annual growth

Obviously, given the tax cuts on corporate profits, tax income on corporate profits fell from $350 billion in 2017 to $231 billion in 2018.

US corporate taxes upto 2018

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