last update 12-26-2010

CORPORATE INCOME TAX RATES

Is your corporation going to have to pay income taxes this year? The only way to find out is to determine your income and check the tax brackets. Here are what the tax brackets are for 2010 and 2011 corporate income taxes:

FEDERAL CORPORATE INCOME TAX RATES ARE:

Income Levels                      Tax Rates
   $0 to $50,000                  15% of the Income
   from $ 50 to $ 75,000         $ 7,500 plus 25% of income above $50,000
   from $ 75 to $100,000         $15,250 plus 34% of income above $75,000
   from $100 to $335,000          plus 39.5% over $100,000
   $335,000 and up		  34%  (effectively 34% on all income)


LOUISIANA CORPORATE INCOME TAX RATES ARE:

Income Levels
   $0 to $25,000		 4% of income
   from $25,000 to $50,000	 $1,000 plus 5% of income above $25,000
   from $50,000 to $100,000	 $2,250 plus 6% of income above $50,000
   from $100,000 to $200,000	 $5,250 plus 7% of income above $100,000
   for income above $200,000	 $12,250 plus 8% of income above $200,000

	Louisiana also provides a credit against the corporate income
	taxes for certain ad valorem taxes paid to local parish tax
	collectors for inventory.

A corporate manager should always do some advance planning prior to the year end to be sure that he knows what taxes to expect before he is faced with the actual amount. Some planning may also help to reduce the amount of taxes that will be due.

If you want to talk about your situation, please call me at:

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last update 12-26-2010

CORPORATE INCOME TAX RATES

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