Corporate Tax in Hartford, Connecticut

Find the right Corporate Tax attorney in Hartford, CT

Corporate Tax Lawyers in Hartford

In Hartford, Connecticut, 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 Connecticut, 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 apparent example of this concept is a corporation's obligation to pay income taxes similar to how an actual person would.

Corporate Tax Rate in Hartford, Connecticut

Every corporation in the U.S. which has taxable income must pay its share of the federal corporate income tax. The majority of states additionally have a corporate income tax, which Hartford, Connecticut corporations are required 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.

Likewise, chances are good that the corporate tax rate in Connecticut are different from individual income taxes. However, many states feel that their economies would be best served by attracting as many businesses as possible. For that reasons, in a large number of states, the corporate income tax rate is considerably lower than the individual rate.

Whatever a company's legal tax rate is, all corporations in Hartford, Connecticut must pay the taxes assessed against them. If they don't, they can be made to pay very considerable fines - typically much larger than their original tax bill.

How Can a Hartford, Connecticut Corporate Tax Lawyer Help?

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

Of course, smaller companies in Hartford can't afford to have full-time legal and accounting departments on their payroll. Therefore, if your business is organized as a corporation, and has an issue with its taxes, it's imperative that you contact a Hartford, Connecticut tax attorney as soon as possible.

Talk to a Tax Law Attorney now!

Life in Hartford

Hartford, Connecticut is a diverse and historic city located in Hartford County. It is the state capital as well as the county seat for Hartford County. The Hartford metropolitan region boasts the second highest national rating for per capita economic activity (behind San Francisco). It is part of an area known as the "Knowledge Corridor", which is home to thirty-two colleges and universities.

Hartford, Connecticut is also nicknamed "the Insurance Capital of the World", as it houses headquarters for several major insurance companies. The insurance field is Hartford's major industry. The Phoenix Mutual Life Insurance Building is one of the city's main features. Other places of interest in Hartford are the Soldiers and Sailors Memorial Arch and the Bushnell Center for the Performing Arts.

Being nearly 400 years old, Hartford Connecticut is home to a whole host of "oldest" operations in the U.S. A few examples include the nation's oldest published newspaper in operation (The Hartford Courant); the oldest public park (Bushnell Park) and the Wadsworth Atheneum, which is the country's oldest public art museum. Notable residents have included author Mark Twain and actress Katharine Hepburn. The city also boasts a large number of modern retail stores and restaurants.

Lawyers in Hartford, Connecticut continue the city's rich history in legal services. Hartford lawyers are knowledgeable of the various statutes and laws that regulate the city's businesses and population. They are available for legal assistance in a broad range of legal fields.

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