Corporate Tax Lawyers in Northampton County

A "corporation" in Northampton County, Pennsylvania is an organization formed under state law which is regarded a separate "person" from any of the people who run it.

This doctrine is recognized as "corporate personhood." While the concept is somewhat abstract, the law of Pennsylvania treats corporations as individual persons, for most purposes. This means that, legally, corporations have most of the same rights, privileges, and commitments as living, breathing human beings.

One of these commitments is the duty to pay income tax in much the same way as an individual person.

Corporate Tax Rate in Northampton County, Pennsylvania

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 Northampton County, Pennsylvania are obligated to pay.

The federal corporate income tax rate is different from the tax rate that applies to individuals. The highest corporate tax rate at the federal level is 35% of income - applying to companies that make over .3 million per year. Corporations earning under ,000 pay a 15% tax rate. There are many tax brackets in between.

The corporate tax rate in Pennsylvania 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 thus improve their economies) is to have a low corporate tax rate.

In any case, Northampton County, Pennsylvania corporations have to pay both the state and federal income tax. If they fail to do so, they can be subject to grave penalties, such as very large fines. These fines can be big enough to put some smaller companies out of business. Suffice to say, it's normally cheaper for corporations to pay their taxes than to not.

How Can a Northampton County, Pennsylvania Corporate Tax Lawyer Help?

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

However, if you are the owner of a smaller corporation in Northampton County, you likely can't afford a full-time in-house lawyer. For that reason, you should retain an attorney in Northampton County, Pennsylvania who practices tax law, on an as-needed basis, if you ever encounter a corporate tax issue, such as an audi