FEDERAL PROGRE$$IVE

C- CORPORATION

INCOME TAX RATE SCHEDULE

Taxable Income	Tax
$0 - $50,000	x 15% - $0
$50,001 - $75,000	x 25% - $5,000
$75,001 - $100,000	x 34% - $11,750
$100,001 - $335,000	x 39% - $16,750
$335,001 - $10,000,000	x 34% - $0
$10,000,001 - $15,000,000	x 35% - $100,000
$15,000,001 - $18,333,333	x 38% - $550,000
$18,333,334 & over	x 35% - $0

Unlike rates for 1040s, these have not been changed for several years and are not adjusted for inflation.

While the last bracket appears to be a reduction, a flat tax of 35% effectively eliminates all of the lower tax brackets.

This page was most recently modified on:
Wednesday, May 02, 2007 04:14 PM Ozarks Time

Kerry M. Kerstetter
MBA~CPA~ATP~ATA
11802 Deer Road
Harrison, AR 72601
E-Mail: KMKCPA@TaxGuru.org
Web: www.TaxGuru.org
Blog: www.TaxGuru.net