Experienced Small
Business Accountant - Under pre-Act law, corporations are subject to graduated tax
rates of 15% (for taxable income of $0-$50,000), 25% (for taxable income of
$50,001-$75,000), 34% (for taxable income of $75,001-$10,000,000), and 35% (for
taxable income over $10,000,000). Personal service corporations pay tax on
their entire taxable income at the rate of 35%.
New law. For
tax years beginning after Dec. 31, 2017, the corporate tax rate is a flat 21%
rate. (Code Sec. 11(b), as amended by Act Sec. 13001)
We're here to help! For no obligation free consultation
contact us today!
Amare
Berhie, Senior Accountant
(651) 300-4777
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