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If your repair business brought in $100,000 how much tax would you owe?
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24 votes
24 votes
If your repair business brought in $100,000 how much tax would you owe?

User Stephan B
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1 Answer

16 votes
16 votes

Answer:

$13,300 If the business is owned by one person or 26,900 if it has multiple owners.

Step-by-step explanation:

Small businesses with one owner pay a 13.3 percent tax rate on average and ones with more than one owner pay 23.6 percent on average. Small business corporations (known as “small S corporations”) pay an average of 26.9 percent. Corporations have a higher tax rate on average because they earn more income

User Offset
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