Class 6a Corp Intro

Class 6a Corp Intro - TaxationoftheBusinessEntity...

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Taxation of the Business Entity Online Lecture Series Presented by Akore Berliner, CPA Introduction to Corporations
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Various Business Forms Sole proprietorships Partnerships Trusts and estates S corporations  Regular corporations  (also called C corporations)
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C Corporation Separate tax-paying entity Reports income and expenses on Form 1120   (or Form 1120-A) Not a Flow Through Entity! Income taxed at corporate level and again  at owner level when distributed as a  dividend
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Corporate Income Tax Rates $50,000 or less 15% Over $50,000 but not over $75,000 25% Over $75,000 but not over $100,000 34% Over $100,000 but not over $335,000 39% Over $335,000 but not over $10,000,000 34% Over $10,000,000 but not over $15,000,000 35% Over $15,000,000 but not over $18,333,333 38% Over $18,333,333 35%
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Nontax Issues in Selecting Entity  Form Liability Sole proprietors and some partners have unlimited liability for  claims against the entity Capital-raising Corporations and partnerships to a lesser extent can raise large  amounts of capital for entity ventures
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This note was uploaded on 08/11/2011 for the course ACCT 103 taught by Professor Huxhold during the Spring '11 term at San Diego.

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Class 6a Corp Intro - TaxationoftheBusinessEntity...

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