business taxes

[bethannebowen]

what are the business income taxrate ranges for sole proprietor, partnership, and corprations? Thanks for your time

 

[ALawyer]

Sole proprietorships pay no Federal business tax -- the income is passed on to the owner and added to other income and then taxed at ordinary rates. Same for partnerships -- the share of income is passed on to the partners in proportion to their ownership.

Corporations - but not S Corps -- do pay corporate income tax on their net profits, but most small business choose Sub-Chapter S and are not taxed at the coprorate level.

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