New Brunswick – Provincial corporation tax

What's new for corporations

Lower rate

The lower rate of New Brunswick corporation income tax is 2.5%.

To determine the income eligible for the lower rate, use the New Brunswick business limit of $500,000.


The New Brunswick business limit is not subject to the federal passive income business limit reduction. As such, eligible New Brunswick small businesses are eligible for the New Brunswick lower rate regardless of the amount of passive income they earned. See the details about the reduced business limit.

Higher rate

The higher rate of New Brunswick corporation income tax is 14%.

The higher rate applies to all income not eligible for the lower rate.

For more information, see Dual tax rates.

Reporting the tax

You can use Schedule 366, New Brunswick Corporation Tax Calculation, to help you calculate the New Brunswick tax before the application of credits. You do not have to file it with your return. See the schedule for more details.

On line 225 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of tax calculated.

Claiming the credits

New Brunswick offers different tax credits. Details of each credit can be found in the following pages and their associated schedules:

Forms and publications

Government partners

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