Corporate Tax in Philadelphia, Pennsylvania

Find the right Corporate Tax attorney in Philadelphia, PA

Corporate Tax Lawyers in Philadelphia

A "corporation" in Philadelphia, Pennsylvania is an organization established under state law which is considered a separate "person" from any of the people who run it.

This doctrine is identified 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 many of the same rights, privileges, and obligations as living, breathing human beings.

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

Corporate Tax Rate in Philadelphia, Pennsylvania

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

Under federal laws that regulate corporate income taxes, corporations pay a different income tax rate from individual people. Corporations pay a maximum federal income tax rate of 35%, and a minimum rate of 15%, depending on their income. The high tax rate applies to corporations that make .3 million per year, and the low rate applies to any company bringing in less than ,000.

In Pennsylvania the corporate tax rate probably differs from the individual tax rate as well. In many states, policymakers have determined that the local economy benefits most when it is business-friendly. In those states, the corporate tax rate is normally lower than the individual income tax rate, unlike the federal system, where the corporate tax rate is higher.

In any case, Philadelphia, Pennsylvania corporations have to pay both the state and federal income tax. If they fail to do so, they can be subject to severe 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 typically cheaper for corporations to pay their taxes than to not.

How Can a Philadelphia, Pennsylvania Corporate Tax Lawyer Help?

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

But most smaller Philadelphia corporations cannot afford to have these professionals on staff. Thus, they simply hire them as needed. If you are a business owner, and you have questions about corporate taxation, you should seek the counsel of a competent and trustworthy tax lawyer in Philadelphia, Pennsylvania as soon as you can.

Talk to a Tax Law Attorney now!

Life in Philadelphia

Philadelphia, Pennsylvania is a place filled with history. Liberty Bell is a popular attraction where people go to take picture around the bell and enjoy its beautiful sound. Philadelphia is also home to the birthplace of the Declaration of Independence and the United States Constitution, therefore many people visit Independence Hall on a daily basis.

Other favorite attractions include the Philadelphia Zoo, Cathedral Basilica of Saints Peter and Paul, Tomb of the Unknown Soldier, Rittenhouse Square, Penn's Landing, which gives a marvelous view of the Delaware River. In many ways, Washington D.C. and Philadelphia have a lot in common because both places are metropolitan, fun, and filled with history! This is why many enjoy Philadelphia so much.

Alongside the history is the thriving legal industry. Philadelphia is filled with large firms that practice in many areas of law, as well as small boutique law firms that focus on a particular practice. This being so, no legal need will be unattended in Philadelphia, Pennsylvania.

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