Corporate Tax in Kenosha, Wisconsin

Find the right Corporate Tax attorney in Kenosha, WI

Corporate Tax Lawyers in Kenosha

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

This doctrine is known as "corporate personhood." While the concept is somewhat abstract, the law of Wisconsin treats corporations as individual persons, for most purposes. This means that, legally, corporations have most of the same rights, privileges, and commitments as living, breathing human beings.

One of the major legal duties a corporation has is the requirement that it pay taxes on its income, just as a person would.

Corporate Tax Rate in Kenosha, Wisconsin

Every corporation in the U.S. which has taxable income must pay its share of the federal corporate income tax. The majority of states also have a corporate income tax, which Kenosha, Wisconsin corporations are required to pay.

Under the federal tax system, and the tax laws of several states, corporate income is taxed at a different rate from the income of individuals. For instance, 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.

Likewise, chances are good that the corporate tax rate in Wisconsin are different from individual income taxes. However, many states feel that their economies would be best served by attracting as many businesses as possible. For that reasons, in a large number of states, the corporate income tax rate is significantly lower than the individual rate.

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

How Can a Kenosha, Wisconsin Corporate Tax Lawyer Help?

The majority of big corporations have accountants, tax lawyers, and other legal/financial specialists on staff to guarantee that they adhere with state and national corporate tax laws.

As most business owners know, however, the majority of small Kenosha corporations can't afford to have attorneys on staff full time. So, 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 Kenosha, Wisconsin tax attorney immediately.

Talk to a Tax Law Attorney now!

Life in Kenosha

Kenosha is located in Kenosha County, Wisconsin. It's population was 99,218 as of 2011. It is a well-recognized city in Wisconsin because it is the fourth largest city in the state. Surrounding areas include Chicago, Milwaukee, Green Bay and Kale Michigan

Some popular areas include Washington Park, Petrifying Springs Park, Hawthorn Hollow Nature Sanctuary and Arboretum, and Library Park. As evident, Kenosha is a great host to nature-lovers because of its many parks.

Top employers include Milken Institute, Abbott Laboratories, Simmons Bedding Company, Jockey International, and American Motors Corporation. To support such companies, Kenosha also has an excellent legal force capable of handling the legal needs of both residents and corporations.

All in all, Kenosha has some beautiful sites, offers small town charm and a loving community. It is a wonderful place to call home or visit!

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