The general corporate tax rate is 15% but small businesses can pay only a 2.5% tax rate on the first $500,000 of active business income.
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Small Business Tax Credit
Reduced tax rate for Newfoundland and Labrador small business
Data source
Innovation Canada — Business Benefits Finder, under the Open Government Licence – Canada. July 2025 version. 8funder is not affiliated with the Government of Canada.
Classification derived from the organization name and the program text.
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