Corporate Tax Lawyers in Brenham

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

This rule is called "corporate personhood." Essentially, 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 obvious example of this concept is a corporation's obligation to pay income taxes similar to how an actual person would.

Corporate Tax Rate in Brenham, Texas

Every corporation in the United States is obligated to pay federal income tax. Most states also have a corporate income tax, which corporations doing business in Brenham, Texas are obligated to pay.

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 various tax brackets in between.

There's also a good chance that the tax rate applicable to corporations in Texas 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.

Whatever a company's legal tax rate is, all corporations in Brenham, Texas must pay the taxes assessed against them. If they don't, they can be made to pay very considerable fines - typically much larger than their original tax bill.

How Can a Brenham, Texas Corporate Tax Lawyer Help?

Many larger corporations have lawyers and accountants who guarantee that they are in complete compliance with both state and federal tax law.

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