|
|
|
|
|
|
by rpedela
4222 days ago
|
|
|
You do have a minimum state tax regardless of revenue or profit, but corporate income tax is only on profit. Therefore double taxation does not matter until you are profitable. In addition, you can "carryover" losses from previous years to profitable years in order to reduce your tax burden. In other words, if you lose $10K in year one and have a profit of $10K in year two then you have $0 taxes in year two. The paperwork is complicated for "carryover" so please consult an accountant. |
|
|