Corporate Tax in Federal Way, Washington

Find the right Corporate Tax attorney in Federal Way, WA

Corporate Tax Lawyers in Federal Way

In Federal Way, Washington, a "corporation" is a legal entity established under the law, which is treated (for some purposes) as a "person" with a legal identity distinct from that of its owner.

Corporations are subject to the rule of "corporate personhood." Simply put, this means that corporations, under the law in Washington are treated as individual persons. This means they have many of the same legal rights and responsibilities as actual human beings.

As a prime example, corporations have to pay income taxes, just as a person would.

Corporate Tax Rate in Federal Way, Washington

All corporations in America have to pay a federal income tax. Several states also have a corporate income tax, which corporations operating in Federal Way, Washington have to pay.

Under the federal tax system, and the tax laws of some states, corporate income is taxed at a different rate from the income of individuals. For example, 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 Washington 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 best way to attract business (and thus improve their economies) is to have a low corporate tax rate.

In Federal Way, Washington, corporations must pay both the federal and state corporate income tax. Failing to pay these taxes can result in severe punishment, including huge fines which can put a corporation out of business.

How Can a Federal Way, Washington Corporate Tax Lawyer Help?

Most larger corporations have lawyers and accountants who ensure that they are in full compliance with both state and federal tax law.

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

Talk to a Tax Law Attorney now!

Life in Federal Way

Federal Way is a city in the state of Washington; specifically, it is located in King County. Federal Way is located between the cities of Seattle and Tacoma. Bordering areas include Puget Sound, Des Moines, Kent, Milton, and Fife.

The city's top employers include Weyerhaeuser, World Vision, St. Francis Hospital, Wild Waves Theme Park, ACS, Wal-Mart, and Coldwell Banker Danforth Associates. Federal Way is also home to many small law offices that cater to residents' legal needs in every area of practice.

Famous residents include Dan Spillner, Kyle Secor, Michael Dickerson, Roy Thomas, Travis Ishikawa, and Kelyn Rowe.

Overall, Federal Way is a city rich in history and definitely worth visiting when in Washington!

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