Tax Benefits & Differences: Sole Proprietor vs. LLC vs. S-Corp vs. C-Corp | Which Business Entity is Best?
LyfeAccounting
MARCH 5, 2021
The exact tax you pay on that will depend on the tax bracket your total personal income falls in. Double taxation is where the company itself is taxed on all of its profits, before payments to owners are made. And then the owners are taxed on payments they receive from the corporation. So, you’re taxed twice.
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