Federal Tax Rates Corporations
The basic federal tax rates for corporations as of 2015 are: Up to $50,000 15% $50,000 to $75000 25% $75,000.00 to $10,000,000 34% Over $10,000,000 35% The accounting methods used are generally either cash or accrual. Most individuals use the cash method as do most small business corporations. If a corporation’s gross receipts (as distinguished…