Corporate Tax in Yakima, Washington

Find the right Corporate Tax attorney in Yakima, WA

Corporate Tax Lawyers in Yakima

In Yakima, 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 Yakima, Washington

Virtually 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 Yakima, Washington are required to pay it.

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 tax rate in Washington for corporations probably also differs from the taxes that individuals must pay. In some states, the government has decided that their interests would be best served by making corporate taxes as low as possible. So in many states, the tax rate for corporations is much lower than the one paid by individuals, unlike the federal corporate tax.

Whatever their legal tax rate, all corporations in Yakima, Washington are required to comply with state and federal income tax laws. Failure to pay income tax can be punished by massive fines, which can sometimes prove financially ruinous.

How Can a Yakima, Washington 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.

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

Talk to a Tax Law Attorney now!

Life in Yakima

Yakima is located in Yakima County, Washington. Per the 2010 census, it is home to 91,067 people.

Popular sites include Mount Rainier National Park, West Valley and Terrace Heights, and the Yakama Indian Reservation.

Top employers include the Sports Center Tavern, The Hilton Garden Inn, the Speakeasy Bar, Grill Nightclub, Kana Winery, Donitelia Winery, Yakima Cellars Winery, and the Barrell House.

Yakima is also home to many small law offices. Very competent attorneys are able to tackle the legal needs of residents with the help of their wonderful support staff. Therefore, Yakima residents never have trouble tending to their legal needs.

Overall, Yakima is a small, quaint area that hosts a small-town charm and humility. It is a wonderful place to visit and call home!

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