New Brunswick's corporate income tax is administered and collected by the federal government through the Canada Revenue Agency. New Brunswick corporate income tax rates are applied to federally defined New Brunswick taxable income.
The small business rate applies to active business income of Canadian controlled private corporations (CCPCs) up to the threshold amount of active business income. The benefit of the small business rate is reduced for CCPCs with taxable capital of more than $10 million and is not applicable to CCPCs with more than $50 million in taxable capital. The general corporate income tax rate is applied to all other corporate income.
For tax years starting after April 6, 2022, the Government of Canada has extended the range over which the business limit is reduced based on the taxable capital employed in Canada. The new range is $10 million to $50 million in taxable capital; it was previously $10 million to $15 million.