Tiny Corporations get a tax hike

by Tax Help Expert

The 21% corporate tax rate is definitely historical but nobody is mentioning the losers in this deal; the corporations earning less than $50K.

Until now the first $50,000- was taxed at a rate of 15%, now with the new corporate tax rate everything is being taxed at the new 21% tax rate. So instead of paying $1500- tax on every $10K they will pay $2100-; an increase of 40%.

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