Corporate Tax in Edmonds, Washington

Find the right Corporate Tax attorney in Edmonds, WA

Corporate Tax Lawyers in Edmonds

In Edmonds, Washington, a "corporation" is a legal entity established under the law, which is treated (for some purposes) as a "person" with a legal identity distinct from that of its owner.

Corporations are subject to the rule of "corporate personhood." Simply put, this means that corporations, under the law in Washington are treated as individual persons. This means they have many of the same legal rights and responsibilities as actual human beings.

As a prime example, corporations have to pay income taxes, just as a person would.

Corporate Tax Rate in Edmonds, Washington

All corporations in America have to pay a federal income tax. Several states also have a corporate income tax, which corporations operating in Edmonds, Washington have to pay.

Under the federal tax system, and the tax laws of some states, corporate income is taxed at a different rate from the income of individuals. For example, the top federal income tax rate for corporations is 35%, compared with 33% for individuals. The highest tax rate applies to corporations making more than .3 million per year. The lowest corporate tax rate is 15%, applying to those corporations that make less than ,000 per year.

In Washington the corporate tax rate probably differs from the individual tax rate as well. In many states, policymakers have determined that the local economy benefits most when it is business-friendly. In those states, the corporate tax rate is typically lower than the individual income tax rate, unlike the federal system, where the corporate tax rate is higher.

In Edmonds, Washington, corporations must pay both the federal and state corporate income tax. Failing to pay these taxes can result in severe punishment, including huge fines which can put a corporation out of business.

How Can a Edmonds, Washington Corporate Tax Lawyer Help?

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

However, if you are the owner of a smaller corporation in Edmonds, you probably can't afford a full-time in-house lawyer. For that reason, you should hire an attorney in Edmonds, Washington 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 Edmonds

Edmonds, Washington is a city in Snohomish County. It has a population of slightly over 40,000 people.

It is the oldest incorporated city in Snohomish County, Washington, having been founded in 1899 by a logger named George Brackett. It's not clear who or what the city of Edmonds, Washington is named after, but it is likely either then-U.S. Senator from Vermont George Franklin Edmunds, or nearby Point Edmund (later re-named to Point Edwards).

By 1900, regular ferry boat service to Seattle was available. Edmonds, Washington is an important regional center for the arts. It fetaures a well-known, privately-funded drama club, called the Driftwood Players. They do 4-5 major productions per season, interspersed with several more one-night plays.

It also has hosted a major art festival since 1957, which focuses on the visual arts such as painting and illustration, and collaborates with local schools, featuring several galleries exclusively displaying the artwork of local students, to help promote arts education. Edmonds, Washington also hosts a jazz festival every Memorial Day weekend, with professional, famous jazz performers playing, as well as music students from nearby schools.

Given its diverse, eclectic population and culture, it's no surprise that Edmonds, Washington has a diverse and well-rounded legal community. If you're facing a legal issue, and live in the area, it's almost certain that an Edmonds, Washington lawyer can help.

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