Corporate Tax Lawyers in Slinger

In Slinger, Wisconsin, 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.

This doctrine is identified 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 many of the same rights, privileges, and obligations as living, breathing human beings.

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

Corporate Tax Rate in Slinger, Wisconsin

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 Slinger, Wisconsin are required to pay it.

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 Wisconsin 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 Slinger, Wisconsin 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 Slinger, Wisconsin 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 Slinger 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 imperative that you contact a Slinger, Wisconsin tax attorney as soon as possible.