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Lothar
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 If I open a corporation how do I get taxed
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Posted on 03-08-19 10:41 AM     Reply [Subscribe]
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I am thinking of opening a corporation for my small business but I am not sure how the taxes work. If the corporation makes profit, I heard you have to pay 21% tax which is less than individual tax.

Do I have to pay extra tax if I want to take the profit from the corp into my own account? If I have to pay double tax then it's not worth the hassle.
 
Posted on 03-08-19 11:46 AM     [Snapshot: 47]     Reply [Subscribe]
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PM me
 
Posted on 03-08-19 4:38 PM     [Snapshot: 137]     Reply [Subscribe]
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Hi I am also interested in knowing the answer to this question. Nayapidi would you be kind enough to answer here so others can benefit too?
 
Posted on 03-08-19 4:58 PM     [Snapshot: 158]     Reply [Subscribe]
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please PM me with details.
 
Posted on 03-10-19 12:33 PM     [Snapshot: 324]     Reply [Subscribe]
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You are taxed twice in C corp. First on c corp income then as dividend when you distribute the profit. The only way to take money out of C corp is either as a salary or dividend. C corp is not recommended for most small businesses.
 

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