Corporate Tax in The Woodlands, Texas

Find the right Corporate Tax attorney in The Woodlands, TX

Corporate Tax Lawyers in The Woodlands

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

This system is sometimes called "corporate personhood" by Texas lawyers. It means, in simple terms, that the law treats a corporation just as it would treat a human being - having most of the legal rights and duties that also apply to individuals.

One of these obligations is the duty to pay income tax in much the same way as an individual person.

Corporate Tax Rate in The Woodlands, 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 The Woodlands, Texas are required 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 many 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. Therefore, 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 The Woodlands, Texas must pay the taxes assessed against them. If they don't, they can be made to pay very massive fines - normally much larger than their original tax bill.

How Can a The Woodlands, Texas 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 The Woodlands 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 necessary that you contact a The Woodlands, Texas tax attorney as soon as possible.

Talk to a Tax Law Attorney now!

Life in The Woodlands

The Woodlands is a community located in Texas. It is within the Houston-Sugar Land-Baytown metropolitan area. Per the 2010 census, its reported population is 93,847 people. Specifically, this area is located 32 miles north from Houston.

Top employers include Chevron Phillips, Anadarko Petroleum Corporation, Baker Hughs, CBI, Hewitt Associates, Maersk Line, and Safmarine.

The legal industry also has a presence in the area because many attorneys call The Woodlands home. Also, with the area being so near Houston, residents and local businesses have access to the top-tier law firms and excellent attorneys that practice in the Houston area.

Celebrities who have once called The Woodlands home include Torrie Wilsom, Laura Wilkinson, Peter Stroud, Nick Mitchell, Larry Izzo, Jack Ingram, Hayes Carll, Michael Glyn Brown and Lance Blanks.

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