Kiritsis & Associates
Many articles have been written, berating the double tax feature of C Corps, while exalting the virtues of S Corps. However, there are situations, when a C Corp may be more beneficial for taxes.
1. Flat 21% tax rate. Recent changes to U.S. tax system have brought the corporate tax rate to an almost record low of 21%, which is largely flat, irrespective of taxable income. This could be significant, because 21% may be lower than individual S Corp shareholders may be subject to, which can offset the double taxation disadvantage of C Corps.
2. Less reasonable compensation issues. IRS often scrutinizes, whether a corporation's shareholders get paid a reasonable compensation, along with its coffers receiving the corresponding self-employment tax payments. Such scrutiny is often less for C Corps than S Corps.
3. More able to take advantage of sophisticated tax strategies. Since, Corps is fully separate legal, economic and tax entities from their shareholders; they have an easier time to utilize legal maneuvers to exploit certain tax breaks of the U.S. tax code, by executing a number of sophisticated tax strategies.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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