Tax Attorney In Oregon Or Washington; Does A Small Company Have One: Difference between revisions
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Latest revision as of 12:22, 7 September 2026
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There are two basic forms, C Corp and S Corp. A C Corp pays tax as reported by its profit for the majority and then any dividends paid to shareholders can also taxed. Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The profit flows through to the shareholders who then pay tax on that money. The big anjing extra that the 15.3% self-employment tax does not apply. So, by forming an S Corporation, your small saves $3,060 for this year on a nice gain of $20,000.
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