Can you please explain how C corporations are taxed?

Thanks!

The US Corporate Tax Rates are based on several bands of taxable income with tax rates ranging from 15% rate to the maximum rate of 35%. For the Tax year 2007, the tax bands along with the applicable tax rate rates are as follows:

For taxable income over $ 0 but not exceeding $50,000, taxed at 15%

For taxable income over $50,000 but not exceeding $75,000, taxed at 25%.

For taxable income over $75,000 but not exceeding $100,000, taxed at 34%.

For taxable income over $100,000 but not exceeding $335,000, taxed at 39%.

For taxable income ranging from $335,000 but not exceeding $10,000,000, taxed at 34%.

For taxable income ranging from $10,000,000 but not exceeding $15,000,000 taxed at 35%.

For taxable income ranging from $15,000,000 but not exceeding $18,333,333, taxed at 38%.

For taxable income ranging from $18,333,333 on.. taxed at 35%

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.