Corporate Tax in Colorado Springs, Colorado

Find the right Corporate Tax attorney in Colorado Springs, CO

Corporate Tax Lawyers in Colorado Springs

In Colorado Springs, Colorado, a "corporation" is specified as a legal entity that's separate from its owners. Thus, from a legal standpoint, the owner of a corporation and the corporation itself are not the same "person."

This rule is called "corporate personhood." Essentially, under the law of Colorado, corporations are, in many ways, the same as individual human beings. Thus, corporations have some of the same legal rights and obligations as actual people.

An obvious example of this concept is a corporation's obligation to pay income taxes similar to how an actual person would.

Corporate Tax Rate in Colorado Springs, Colorado

Every corporation in the United States is obligated to pay federal income tax. Most states also have a corporate income tax, which corporations doing business in Colorado Springs, Colorado are obligated to pay.

Under the federal tax system, and the tax laws of several states, corporate income is taxed at a different rate from the income of individuals. For instance, the top federal income tax rate for corporations is 35%, compared with 33% for individuals. The highest tax rate applies to corporations making more than .3 million per year. The lowest corporate tax rate is 15%, applying to those corporations that make less than ,000 per year.

The corporate tax rate in Colorado may also differ from the individual tax rate. However, in many states, the corporate tax rate is lower than the individual income tax rate. This is because many states believe that the ideal way to attract business (and consequently improve their economies) is to have a low corporate tax rate.

Whatever their legal tax rate, all corporations in Colorado Springs, Colorado are obligated to comply with state and federal income tax laws. Failure to pay income tax can be punished by massive fines, which can occasionally prove financially ruinous.

How Can a Colorado Springs, Colorado Corporate Tax Lawyer Help?

Many bigger companies have corporate attorneys and accountants on staff who help them adhere with federal and state tax laws.

As most business owners know, however, the majority of small Colorado Springs corporations can't afford to have attorneys on staff full time. Thus, if you run a small corporation, and are confused about the corporate tax issues that may affect you, it's a very good idea to retain the services of a Colorado Springs, Colorado tax attorney immediately.

Talk to a Tax Law Attorney now!

Life in Colorado Springs

Colorado Springs is the seat of El Paso County and is known as Money Magazine's "best big city to live in" and Outside Magazine named it number one in their 2009 list of America's best cities. Peterson Air Force Base, Falcon Air Force Base, and the Air Force Space Command are all located in Colorado Springs and draw a number of U.S. Service men and women. In fact, the famed NORAD was based in to Cheyenne Mountain overlooking the city. The armed forces including Fort Carson, Peterson Air Force Base, the United States Air Force Academy, and Schriever Air Force Base employ over 20% of the city's population.

It may be obvious to you then, Colorado Springs is home to a number of defense industry professionals from aerospace and missile defense to communications and engineering. Beoing, L-3 Communications, and General Dynamics all have major installations in Colorado Springs alongside the likes of Northrop Grumman and Lockheed Martin. The high tech boom in Colorado Springs has ushered in companies like Verizon Business, Hewlett-Packard, Intel, and Agilent. The companies range from software design to computer chip manufacturing and testing.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Joel C.
Joel C.

Tax Law

Davidson, TN

Edwin L.
Edwin L.

Tax Law

Fayette, TN

Tax Defense N.
Tax Defense N.

Tax Law

Ohio, TN