Corporate Tax in Del Mar, California

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In Del Mar, California, a "corporation" is specified as a legal entity that's separate from its owners. Therefore, 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 California, corporations are, in many ways, the same as individual human beings. Therefore, corporations have some of the same legal rights and obligations as actual people.

One of a corporation's primary legal commitments is its duty to pay income taxes, as an actual person would.

Corporate Tax Rate in Del Mar, California

Every corporation in the U.S. which has taxable income must pay its share of the federal corporate income tax. The majority of states further have a corporate income tax, which Del Mar, California corporations are required to pay.

In most states, and at the federal level, corporations are taxed at a different rate than individuals. At the federal level, the corporate income tax maxes out at 35% for corporations that earn more than $18.3 million per year. Corporations that earn less than $50,000 per year are taxed at 15%. There are many tax brackets in between. Nonetheless, the individual federal income tax rate tops at 33%.

The tax rate in California for corporations probably also differs from the taxes that individuals must pay. In some states, the government has determined that their interests would be best served by making corporate taxes as low as possible. So in many states, the tax rate for corporations is much lower than the one paid by individuals, unlike the federal corporate tax.

Whatever their legal tax rate, all corporations in Del Mar, California are obligated to comply with state and federal income tax laws. Failure to pay income tax can be punished by massive fines, which can occasionally prove financially ruinous.

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How Can a Del Mar, California Corporate Tax Lawyer Help?

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

As most business owners know, however, the majority of small Del Mar corporations can't afford to have attorneys on staff full time. Therefore, 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 Del Mar, California tax attorney immediately.

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Life in Del Mar

Del Mar is located in San Diego County, California. With a smaller population of about 4,500, Del Mar is an upscale city known for its beautiful beaches and legendary surfing.  The name "Del Mar" means "by the sea" or "of the sea", as it is located directly on the Pacific Coast.  The city was mentioned in the Beach Boys hit song, "Surfin' USA". 

Del Mar is home to several beaches which are known as excellent surfing spots.  In particular, 15th Street Beach in Del Mar was listed as #4 on Time Magazine's list of "100 Greatest Beaches in the World".  Other beach sites include Torrey Pines State Beach and North Beach, affectionately known as "Dog Beach" by the many dog owners who frequent the area.

Del Mar, California is also famous for being the home to the annual San Diego County Fair.  The fair is one of the most popular summer fairs in all of California and is held at the Del Mar Fairgrounds.  The Fairgrounds also houses the Del Mar Racetrack.  In addition to the world-class beaches at Del Mar, the area is an excellent site for employment, with top hirers such as Kitchen 1540 and Pacifica Del Mar.

Lawyers in Del Mar, California handle a variety of different legal claims and disputes.  Legal inquiries can be directed to an experienced Del Mar lawyer.  Del Mar lawyers typically represent clients at the nearby Superior Court of California, County of San Diego.

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