Corporate Tax in Baytown, Texas

Find the right Corporate Tax attorney in Baytown, TX

Corporate Tax Lawyers in Baytown

A "corporation" in Baytown, Texas is an organization established under state law which is considered a separate "person" from any of the people who run it.

This rule is called "corporate personhood." Basically, under the law of Texas, 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 apparent example of this concept is a corporation's obligation to pay income taxes similar to how an actual person would.

Corporate Tax Rate in Baytown, Texas

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 Baytown, Texas 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 Texas 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, Baytown, Texas 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 Baytown, Texas 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.

As most business owners know, however, the majority of small Baytown corporations can't afford to have attorneys on staff full time. Thus, if you run a small corporation, and are confused about the corporate tax issues that may affect you, it's a very good idea to retain the services of a Baytown, Texas tax attorney immediately.

Talk to a Tax Law Attorney now!

Life in Baytown

Baytown is located in Harris and Chambers County, Texas. Per the 2010 census, the population of the city is 71,802 people.

Some great attractions to check out while in Baytown include Baytown Nature Center, Houston Raceway Park, the National Hot Rod Association (NHRA), the Baytown Symphony Orchestra, and the San Jacinto Mall.

Famous residents include Bobby Fuller, Gary Busey, Leeland Mooring, Joe Tex, Drew Tate, Romany Malco, and Rocky Bernard.

Top industries include construction, education, transportation, and retail. Although legal services is not included, there are many established law offices and firms in and near Baytown. These entities train excellent attorneys to handle any and every legal need of residents and businesses.

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