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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

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How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

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Last Week in Payroll: The Ides of March

ThomsonReuters

The IRS has posted a final version of the 2021 Form 941 , Employer’s Quarterly Federal Tax Return and its instructions that take into account the COVID-19 tax credit extensions provided for in the Consolidated Appropriations Act, 2021. Legislation introduced to keep unemployment tax rate increases. 2021 Form 941.

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