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Is there a capital gain rate for corporations or the

HiIs there a capital gain...
HiIs there a capital gain rate for corporations or the corporation is taxed at the 21% rate as ordinary income ? In other words? if the crop earns only passive income then is it still the 21% tax bracket?
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2/20/2018
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Tax
Satisfied Customers: 2,498
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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Hello!

My name is***** will assist you today.

The 2018 Tax Cut and Jobs Act introduced a flat 21% tax rate for corporations.

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Please see #15 of the attachment.

Passive income is also taxed at 15%

Please let me know if you have any additional questions.

Thank you!

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Here is an additional attachment with information concerning the tax act

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Customer reply replied 3 months ago
I am referring to a C corporation. The new rules calls for 21% tax. Does this also apply to capital gains?

Yes, the 21% flat tax is for C Corporations. The second attachment I sent states "Corporations ( C Corp or LLC Treated as Corp)" on the bottom.

The tax law for corporations starts with #13

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Customer reply replied 3 months ago
as far as my question goes.
If a corporation earns capital gain , does it pay taxes at a 21% rate ? Meaning, is there a tax rate difference for capital gains for corporations? Or the capital rate difference is only for individuals ?

Capital gains are also taxed at 21% by corporations.

The Long Term capital gains tax rate for individuals remains the same 0%,10%,15% and a top rate of 20%

Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Tax
Satisfied Customers: 2,498
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
Verified
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