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How often do corporate tax changes occur and when do they usually happen?
Does this tax change depend on how much your business brings in, or is it a flat percentage across the board?
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3 Answers
Changes in corporate taxes can occur at the Federal, State and Local levels as a result of legislative action. These changes can be quite complex and may include tax rate changes or changes in details such as depreciation rates or research tax credits.
Your question is much to broad to do much more than the above. If your business has an association which many industries do, it is likely that the association has a person that follows tax changes that might influence that industry. You can contact this person for more detailed help. You can also follow business oriented news reports for changes in tax levels. For example, recently in the news was the reduction in payroll tax from hiring the unemployed which was part of a new tax act from congress.
In the UK Corporation Tax Rates change every year at present, they change on 1 April and there are 2 rates, small company rate of 21% up to a profit of £300,000 then the rates rises to 28% (currently).
Jason
In the UK Corporation Tax Rates change every year at present, they change on 1 April and there are 2 rates, small company rate of 21% up to a profit of £300,000 then the rates rises to 28% (currently).
Jason
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