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Posted on July 20, 2018 in Firm News
Clients have asked and maybe hoped that under the new tax law “C” corporations no longer have what is considered a double taxation problem.
The new tax rate for “C” corporations is a flat rate of 21%. Before the new tax laws “C” corporations were taxed at a graduated rate ranging from 15% to 35%. The dividends paid to the shareholders are still taxed to them at their individual tax rates, so in fact “double taxation” has not gone away.