Corporate Tax in Wheat Ridge, Colorado

Find the right Corporate Tax attorney in Wheat Ridge, CO

Corporate Tax Lawyers in Wheat Ridge

In Wheat Ridge, 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 Wheat Ridge, Colorado

Every corporation in the U.S. which has taxable income must pay its share of the federal corporate income tax. The majority of states additionally have a corporate income tax, which Wheat Ridge, Colorado 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 .3 million per year. Corporations that earn less than ,000 per year are taxed at 15%. There are various tax brackets in between. However, the individual federal income tax rate tops 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 Wheat Ridge, 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 Wheat Ridge, Colorado Corporate Tax Lawyer Help?

Most larger corporations have lawyers and accountants who ensure that they are in full compliance with both state and federal tax law.

Of course, smaller companies in Wheat Ridge 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 imperative that you contact a Wheat Ridge, Colorado tax attorney as soon as possible.

Talk to a Tax Law Attorney now!

Life in Wheat Ridge

Wheat Ridge has a population of 32,000 people and is located in Jefferson County, Colorado, just west of Denver. It is situated just 5 miles away from the Colorado state Capital.

The city of Wheat Ridge was originally founded as early as 1859, and incorporated in 1969. The settlement began as a farming village which assisted nearby mining communities. The Wheat Ridge Historical Society is dedicated to preserving the city's history, which includes several log cabins which are still standing to this day.

Currently, Wheat Ridge has a thoroughly developed Parks and Recreation Department with several branches for various activities. Examples of recreational activities for Wheat Ridge residents include programs at the Active Adult Center and the Performances in the Park concert series held from July through August. The concert series draws many local and nationwide performers, and is a great example of the city's lively atmosphere and commitment to development.

Wheat Ridge lawyers typically file their claims at the Wheat Ridge Municipal Court. Some legal claims can also be heard at the Jefferson County Court. Many lawyers in Wheat Ridge, Colorado are members of different professional organizations such as the Jefferson County Bar Association.

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