The firm undertakes all kinds of corporate tax. The following is a partial summary of corporate tax declaration for reference only.

Corporation is usually divided into two types, class C and class S.The federal tax rate for category C corporations is uniform at 21% due to the tax reduction and employment law (TCJA), which came into effect in 2018.Class S corporation is a transparent entity. Corporate profits and revenues are distributed to individuals in the k-1 form. The tax burden on corporate income is mainly borne by the owner.Class C co., ltd. shall declare the year-end tax in form 1120.Class S co., ltd. shall declare the year-end tax in form 1120S. Class S companies shall not pay tax themselves, so as to avoid the double taxation policy of class C companies.The liability or liability is assumed by the assets of the company. It is not related to the assets of an individual.

Partnership is a transparent entity in which annual corporate surplus income is distributed to each partner on the k-1 table.The company itself does not have to pay taxes, thus avoiding the double taxation policy of class C companies.Individuals who receive k-1 are subject to self-employed taxes in addition to normal federal, state, and local taxes.Partnership is declared for year-end tax by form 1065.The liabilities or liabilities of the LLC Partnership are assumed by the assets of the company. They are not related to personal assets.

A Limited Liability Company can be divided into two types: multiple members or single members.The individual member's LLC tax mechanism is covered by Schedule C for individual taxes. In addition, states have their own tax returns to cover state taxes.The Liability or Liability of a Limited Liability Company shall be borne by the assets of the Company and shall not be related to the assets of individuals (except for the tax owed by the government).

Sole Proprietorship is the unlimited liability of individual companies.Any liability or debt problems incurred by such companies will be linked to personal assets.Individual companies use Schedule C in their personal tax Schedule to file federal taxes. Profits are also subject to federal self employment tax.