Corporate Tax in Aurora, Colorado

Find the right Corporate Tax attorney in Aurora, CO

Corporate Tax Lawyers in Aurora

In Aurora, Colorado, a "corporation" is defined 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." Basically, under the law of Colorado, 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.

An discernible example of this concept is a corporation's obligation to pay income taxes similar to how an actual person would.

Corporate Tax Rate in Aurora, Colorado

Every corporation in the United States is required to pay federal income tax. Most states also have a corporate income tax, which corporations doing business in Aurora, Colorado are required to pay.

At the federal level, and in some 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 individuals maxes out at 33%.

The corporate tax rate in Colorado 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 consequently improve their economies) is to have a low corporate tax rate.

In any case, Aurora, Colorado corporations have to pay both the state and federal income tax. If they fail to do so, they can be subject to severe penalties, such as very large fines. These fines can be big enough to put some smaller companies out of business. Suffice to say, it's typically cheaper for corporations to pay their taxes than to not.

How Can a Aurora, Colorado Corporate Tax Lawyer Help?

Most very large corporations have tax attorneys and accountants on staff, as full-time employees, who help them stay in compliance with all applicable state and federal income tax laws.

However, if you are the owner of a smaller corporation in Aurora, you probably can't afford a full-time in-house lawyer. For that reason, you should contact an attorney in Aurora, Colorado who practices tax law, on an as-needed basis, if you ever encounter a corporate tax issue, such as an audi

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Life in Aurora

Aurora, Colorado is a city that spans Arapahoe, Adams, and Douglas counties. It is the third-largest city in Colorado, and the 56th-largest city in the United States, with a population of 325,000 people.

During the 1970s and 80s, Aurora began to grow rapidly, after relatively slow growth from its founding in the 1800s. This was due in large part to a broader growth trend in the American West, with many businesses and industries taking advantage of cheap land prices, and a business-friendly climate in Colorado and other Western states.

The largest employer currently in Aurora is the Buckley Air Force Base, which employs over 12,100 people. Many Aurora, Colorado attorneys, both military and civilian, work for this air force base, either directly or indirectly.

Of course, there are Aurora, Colorado attorneys who can handle most non-military legal issues that the average person is likely to face. If you need legal advice, there are many lawyers in Aurora, Colorado who can help.

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