In this report, MAPI Economic Consultant Jeremy A. Leonard examines trends in Canadian and U.S. federal corporate tax revenues and finds that the aggressive cuts in Canada’s rates since 2000 had no adverse effects on revenues. Statutory rates declined from 28 percent to 15 percent, bringing the combined federal-provincial rate to about 25 percent. Over the same period, corporate tax revenues increased by 44 percent and their average share of GDP actually increased relative to pre-2000 levels. This confirms other research showing that corporate tax cuts can lead to increasing revenues if the rate is above the estimated revenue-maximizing rate of 25 percent.