Tag: Corporate Taxes

Corporate Taxes are one of the most important regulatory tools used to maintain business and economic order. They ensure that companies are paying their fair share of taxes and contributing their fair share to the economy. Corporate Taxes are levied on the income of a corporation and typically range from 15% to 35%, depending on the jurisdiction. They can include income earned from both domestic and international sources and can vary by jurisdiction and industry. In addition to income taxes, corporations may also pay sales taxes, property taxes, and excise taxes. It is important for business owners to consult a tax professional to ensure they are in compliance with all corporate tax regulations.

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What is an S Corporation? An Overview of Taxes & Benefits

by Penny Grimes

An S Corporation is a type of corporation that is designed to offer certain tax advantages over regular corporations. An S Corporation is required to elect a status with the US Internal Revenue Service (IRS), which provides them with many of the same advantages that a traditional corporation enjoys, such as reduced taxes on corporate income, along with protection from personal liability for the company’s debts and liabilities. As an S Corporation, profits are only taxed at the individual level and are not subject to double taxation, meaning business income is not subject to corporate income tax. In addition, losses incurred in the operation of the business can be deducted from individual incomes.

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