Corporate Tax in Hollywood, Florida

Find the right Corporate Tax attorney in Hollywood, FL

Corporate Tax Lawyers in Hollywood

In Hollywood, Florida, a "corporation" is specified 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 concept is referred to as "corporate personhood" in Florida, and it basically 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 Hollywood, Florida

Practically every for-profit corporation in the U.S. is required to pay taxes on its income each year. Most states also have their own corporate income tax. All corporations in Hollywood, Florida are required to pay it.

The federal corporate income tax rate is different from the tax rate that applies to individuals. The highest corporate tax rate at the federal level is 35% of income - applying to companies that make over .3 million per year. Corporations earning under ,000 pay a 15% tax rate. There are many tax brackets in between.

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. Therefore, in some states, the corporate tax rate is lower than the individual tax rate.

In any case, Hollywood, 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 normally cheaper for corporations to pay their taxes than to not.

How Can a Hollywood, 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.

But if you are the owner of a small corporation in Hollywood, chances are you don't have a full-service legal department on your payroll. Therefore, if you need help with your corporate taxes, it's critical that you speak with a lawyer in Hollywood, Florida who practices tax law.

Talk to a Tax Law Attorney now!

Life in Hollywood

Hollywood, Florida is a city in Broward County, located in Southeastern Florida. It has a population of roughly 140,000 people.

Hollywood, FL was founded in the 1920s. It grew steadily from there, and its population boomed for many years after WWII ended, thanks to a period of strong economic growth, a growing population nationwide, and the advent of the modern suburb. Many successful professionals, such as doctors and lawyers, staked their claim in Hollywood, FL during the 1950s and 60s. In addition to working professionals, Hollywood, FL is also a popular destination for retirees.

One of the largest employers in Hollywood, Florida is HEICO - a major manufacturer of aerospace, medical, and telecommunications technologies, for both the government (including the military) and the private sector. As with any large business, HEICO employs or retains a fairly large number of lawyers to deal with the legal issues a large corporation inevitably faces. As a result, HEICO has helped the careers of many Hollywood, Florida attorneys. Hollywood, Florida was also home to the headquarters of Commodore Cruise Lines, before the company was dissolved. Many Hollywood, Florida corporate and bankruptcy attorneys were involved in wrapping up this large company's affairs.

Residents of Hollywood, Florida who need legal advice usually don't have trouble finding a good attorney. Attorneys in Hollywood, Florida are proficient in a wide variety of practice areas, and anyone who has a legal issue is almost certain to be able to find a Hollywood, Florida lawyer who can help them.

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