Corporate Tax in Kirkland, Washington

Find the right Corporate Tax attorney in Kirkland, WA

Corporate Tax Lawyers in Kirkland

In Kirkland, 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 Kirkland, Washington

All corporations in America have to pay a federal income tax. Many states also have a corporate income tax, which corporations operating in Kirkland, Washington have 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 Washington 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.

Corporations in Kirkland, Washington are required to pay both the state and federal corporate tax. Failing to pay either (or both) of these taxes can result in severe legal penalties, including fines that may prove ruinous, especially for smaller businesses.

How Can a Kirkland, Washington Corporate Tax Lawyer Help?

The majority of big corporations have accountants, tax lawyers, and other legal/financial specialists on staff to ensure that they comply with state and national corporate tax laws.

As most business owners know, however, the majority of small Kirkland 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 Kirkland, Washington tax attorney immediately.

Talk to a Tax Law Attorney now!

Life in Kirkland

Kirkland, Washington is a suburb of Seattle, and is located in King County. It has a population of approximately 47,000 people. However, in June of 2011, Kirkland will annex some surrounding unincorporated territory, adding approximately 33,000 residents.

Kirkland was first settled by Peter Kirk in 1886. Kirk saw that the area would be a good location for many industries, including steel production and shipping. Because Kirkland is situated near Lake Washington, which, thanks to the Lake Washington Ship Canal, is directly connected to the Pacific Ocean, it is extremely valuable as an inland harbor.

Kirkland is currently home to several entertainment companies, as well as several software companies, particularly those that specialize in the development of video games. This is a rapidly-growing section of the entertainment industry, and large game companies attract many talented, highly-trained professionals, including programmers, visual artists, and voice actors. As a result, Kirkland is in pretty good economic shape, with just over 5% of the population living below the poverty line, and a median family income of over ,000.

If you live in Kirkland, Washington or the surrounding areas, and need legal services, you're in luck. There are many Kirkland, Washington lawyers who are able to help you with whatever legal issue you may be facing.

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