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Tax on corporations - www.WhatisTax.orgCorporations are people?
Well, they will get taxed as well anyway.

For companies in countries outside of USA :

Most countries of the world tax all of the income of a company that is registered and organized in that country.

Other countries can also tax the same companies for income derived in their country.

Some countries tax the company on both the income and the dividends paid.

As an owner of a company, you most likely will be taxed on income as you are an individual earner.

In the USA:

The federal, state and some local government entities will tax corporations.

If you are a shareholder, you only pay tax on your dividends.

If you are a shareholder in an S corporation, you pay on corporate income but, not on dividends.

Estimated federal taxes are to be filed quarterly.
Corporations have to file returns every year.
The Federal tax (IRS) is usually between 15% and 35%.

If a corporation is subject to foreign income tax, the IRS might allow a foreign tax credit.
States and localities also can tax corporations, but the rates are different, and some rules are, as well.

There is also a Federal AMT or Alternative Minimum Tax.
States often have a version of AMT of their own.

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