Phone (515) 225-9000


QUESTION

Do I have to pay individual taxes on business income if I incorporate?

Contact a Iowa personal injury lawyer representing clients in Norwalk, Iowa today to schedule your initial consultation.

ANSWER
A corporation is a separate entity for legal and tax purposes. The corporation is liable for taxes on its profits, but the owner is not liable for taxes on corporate revenue unless that revenue is given to the owner as wages or other compensation.


If you would like to schedule a initial consultation contact an Iowa cbusiness, financing , licenses insurance and incorporation attorney, representing clients in Norwalk, Iowa at Howes & Anderson P.C. Give us a call at (515) 225-9000 or complete our inquiry form.