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Understanding the Corporate Flat Tax and Its Impact on Small Corporations

The biggest economic provision contained in the Tax Cuts and Jobs Act for Corporations was the change to a flat tax rate of 21% for Corporations filing Form 1120 – U.S. Corporation Income Tax Return. Previously, the tax rates for a C Corporation was 15% on the first $50,000 of taxable income; 25% on the next $25,000 of taxable income, 34% on taxable income…


PROFESSIONAL TAX SOFTWARE MADE BY TAX PROFESSIONALS

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