Corporate Tax in Longmont, Colorado

Find the right Corporate Tax attorney in Longmont, CO

Corporate Tax Lawyers in Longmont

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

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

Corporate Tax Rate in Longmont, Colorado

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

Under the federal tax system, and the tax laws of some states, corporate income is taxed at a different rate from the income of individuals. For example, the top federal income tax rate for corporations is 35%, compared with 33% for individuals. The highest tax rate applies to corporations making more than .3 million per year. The lowest corporate tax rate is 15%, applying to those corporations that make less than ,000 per year.

In Colorado 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 usually lower than the individual income tax rate, unlike the federal system, where the corporate tax rate is higher.

In Longmont, Colorado, corporations must pay both the federal and state corporate income tax. Failing to pay these taxes can result in severe punishment, including huge fines which can put a corporation out of business.

How Can a Longmont, Colorado Corporate Tax Lawyer Help?

Many major corporations employ tax lawyers full time, to ensure that they are in compliance with tax laws, and find legal means to reduce their tax liability.

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

Talk to a Tax Law Attorney now!

Life in Longmont

Longmont, Colorado is a home-rule municipality in Boulder and Weld Counties. It is located near the northeastern corner of Colorado, and has a population of about 86,000 people.

One of the largest employers in Longmont, Colorado is Seagate Technologies, with over 1,160 employees. Seagate is one of the largest manufacturers of hard drives in the world. This company employs a large number of engineers and manufacturers. It also employs several white-collar professionals, including some Longmont, Colorado lawyers.

Another large employer in Longmont is Amgen, one of the world's leading biotech companies, which also employs many Longmont, Colorado lawyers.

If you live in Longmont, Colorado and need legal advice, it's almost certain that you'll be able to find a Longmont, Colorado attorney who can help you with your legal issue.

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