Corporate Tax Lawyers in Marin County
In Marin County, California, a "corporation" is specified as a legal entity that's separate from its owners. So, 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. So, 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 Marin County, California
Basically every for-profit corporation in the U.S. is required to pay taxes on its income each year. Most states also have their own corporate income tax. All corporations in Marin County, California are required to pay it.
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 several tax brackets in between.
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 a company's legal tax rate is, all corporations in Marin County, California must pay the taxes assessed against them. If they don't, they can be made to pay very large fines - usually much larger than their original tax bill.
How Can a Marin County, California Corporate Tax Lawyer Help?
Many larger corporations have lawyers and accountants who guarantee that they are in complete compliance with both state and federal tax law.
But most smaller Marin County corporations cannot afford to have these professionals on staff. So, they simply hire them as needed. If you are a business owner, and you have concerns about corporate taxation, you should seek the counsel of a competent and reputable tax lawyer in Marin County, California as soon as you can.