Corporation: Corporations are the only entities that pay federal taxes on their own based on net earnings.
They are currently taxed at a flat 21% rate..
In addition to the federal income tax levy, most states collect income tax on ordinary income.
The highest marginal rate is in California, at 13.3%.
If you earn $1 million from wages or self-employment income, you'll also have to pay Social Security and Medicare taxes..
Conversely, North Carolina's flat rate of 2.5 percent is the lowest in the country, followed by rates in Missouri and Oklahoma (both at 4 percent) and North Dakota (4.31 percent)..
Corporation: Corporations are the only entities that pay federal taxes on their own based on net earnings.
They are currently taxed at a flat 21% rate..
Revision of the corporate income tax rates
The 2023 finance bill fixed the applicable CIT rates as follows: 20% for companies with a net tax income lower than MAD 100 million. 35% for companies with a net tax income equal to or higher than MAD 100 million (subject to some exceptions).
