Corporate Tax in Moreno Valley, California

Find the right Corporate Tax attorney in Moreno Valley, CA

Corporate Tax Lawyers in Moreno Valley

In Moreno Valley, California, a "corporation" is specified as a legal entity that's separate from its owners. Thus, 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. Thus, corporations have some of the same legal rights and obligations as actual people.

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

Corporate Tax Rate in Moreno Valley, California

Every corporation in the United States is obligated to pay federal income tax. Most states also have a corporate income tax, which corporations doing business in Moreno Valley, California are obligated to pay.

At the federal level, and in certain states, corporations are taxed at different rates from individuals. Federally, the top corporate tax rate is 35% - a rate applying to corporations earning more than .3 million per year. Corporations earning less than ,000 a year pay a 15% corporate tax rate, and there are a few tax brackets in between. For comparison, the federal income tax for persons maxes out at 33%.

The corporate tax rate in California 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 ideal way to attract business (and consequently improve their economies) is to have a low corporate tax rate.

Whatever their legal tax rate, all corporations in Moreno Valley, 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.

How Can a Moreno Valley, 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.

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

Talk to a Tax Law Attorney now!

Life in Moreno Valley

Moreno Valley sits in the Southwestern region of California near Riverside. As the second largest city in Riverside County, Moreno Valley plays host to the March Air Reserve Base and a number of its personnel. The base has been in and out of commission training pilots for the World Wars but has been very active since. It's also the top employer in Moreno Valley with over 9,000 employees. The other top employers include the Moreno Valley School District, Riverside County Regional Medical Center, and the expansive Moreno Valley Mall. The Moreno Valley Mall is home to some of the best shopping in Riverside County with a number of boutique and different designer stores.

The City of Moreno Valley is known for its diversity. After World War II a number of Central American and Latino groups moved to the area to take advantage of the available suburban housing. There are still a number of Mexican American shops catering to Latino immigrants. Additionally, the African American population in Moreno Valley has risen 15% since 2002 with more and more families seeking to get out of Los Angeles city limits. There are a number of Moreno Valley festivals like Cinco de Mayo.

Moreno Valley is a diverse community that also plays host to many knowledgeable lawyers who are familiar with Riverside County and California State courts and cases like criminal cases, divorce, personal injury, and wrongful termination lawsuits. Since residents come from so many different places, Moreno Valley lawyers are also well acquainted with U.S. Immigration Courts and procedures.

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