ThomsonReuters

FEBRUARY 9, 2024

Under this act, if a corporation’s CEO or highest-paid employee’s compensation exceeds 50 times the median worker’s pay, the corporate tax rate would be increased by a penalty determined by the legislation.

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Inform Accounting

NOVEMBER 18, 2022

The leaked and previously announced tax increases are still going ahead…. Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. Companies with profits under £50,000 will be taxed at 19%. Companies with profits between £50,000 and £250,000 will be taxed between 19% and 25%.

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ThomsonReuters

MARCH 9, 2023

• Many of the tax benefits related to the COVID-19 pandemic have expired or reverted to their pre-pandemic levels. Expanded health insurance subsidies are extended through 2025. Both the child tax credit and the child and dependent care credit revert to pre-pandemic levels. What’s new? •

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Withum

MAY 4, 2022

A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax. As a final note, the New York City PTET is on top of, but does not replace the New York City Unincorporated Business Tax (“UBT”) imposed on partnerships or General Corporation Tax (“GCT”) imposed on S corporations.

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xendoo

JANUARY 16, 2023

From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate. A professional tax advisor or CPA can accurately file your business taxes on time.

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CPA Practice

MARCH 8, 2023

This percentage is scheduled to drop to 80% in 2023, 60% in 2024, 40% in 2025, until its wholly phased out in 2027.  However, because of the extensive changes to corporate AMT, a company’s overall depreciation strategy must now be reexamined. = Ryan Sheehan is a Senior Product Lead for Bloomberg Tax & Accounting.

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ThomsonReuters

OCTOBER 19, 2022

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion).

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