Corporate Tax in Coconut Creek, Florida

Find the right Corporate Tax attorney in Coconut Creek, FL

Corporate Tax Lawyers in Coconut Creek

In Coconut Creek, Florida, 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 concept is referred to as "corporate personhood" in Florida, and it typically means that, for many purposes under the law, corporations are treated the same as individual people, being subject to many of the same rights and responsibilities.

One of a corporation's primary legal commitments is its duty to pay income taxes, as an actual person would.

Corporate Tax Rate in Coconut Creek, Florida

Every profit-earning corporation in the U.S. must, legally, pay the federal corporate income tax. Many states additionally have their own corporate income tax, which corporations located in Coconut Creek, Florida have to remit.

Under federal laws that regulate corporate income taxes, corporations pay a different income tax rate from individual people. Corporations pay a maximum federal income tax rate of 35%, and a minimum rate of 15%, depending on their income. The high tax rate applies to corporations that make .3 million per year, and the low rate applies to any company bringing in less than ,000.

There's also a good chance that the tax rate applicable to corporations in Florida differ from the individual tax rates. Some states feel that the best economic policy is to attract as many businesses as they can. Thus, in some states, the corporate tax rate is lower than the individual tax rate.

In any case, Coconut Creek, Florida corporations have to pay both the state and federal income tax. If they fail to do so, they can be subject to grave 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 Coconut Creek, Florida Corporate Tax Lawyer Help?

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

However, if you are the owner of a smaller corporation in Coconut Creek, you likely can't afford a full-time in-house lawyer. For that reason, you should contact an attorney in Coconut Creek, Florida 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 Coconut Creek

Coconut Creek is a city with an interesting name, located in Broward County, Florida. What is interesting is that eventhough its name has the word "coconut" in it, Coconut Creek is home to the world's largest butterfly population. Over 80 species and 5,000 individual butterflies call Coconut Creek home.

Coconut Creek is a small community filled with many small businesses, single-family homes, condos, town homes, and small gated communities. Some popular employers include the school district, Seminole Coconut Creek Casino, Enterprise Rent-A-Car, and Wal-Mart.

Coconut Creek is also filled with many small law offices that are founded by excellent attorneys focusing on creating a legal practice dedicated to excellence and service to the community.

Some popular attractions include Sabal Pines Park, Tradewinds Park, Butterfly World, and Seminole Casino Coconut Creek.

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