2007-01-04 11:15:15 · 2 answers · asked by flignar 2 in Business & Finance ➔ Taxes ➔ United States
Business don't have a flat tax. Of the three types of businesses 1. sole proprietorship 2. partnership 3. corporation
The first two are claimed on your personal income tax, and the third is a corporation which initially is graduated but then overall becomes a flat tax of which is pretty steep.
2007-01-04 12:26:59 · answer #1 · answered by Ginger P 2 · 1⤊ 0⤋
The corporate tax rate is graduated, from 15% to 35% in four brackets. The big difference is that there is a surcharge on higher income corporations that wipes out the brackets, so if a corporation has income over $10million or so, the benefit of the 15, 25, and 34% brackets is lost and the corporation in effect pays a 35% tax on all its net income.
2007-01-04 19:26:44 · answer #2 · answered by mattapan26 7 · 1⤊ 0⤋