Aim: To determine the amount in paid taxes is when filing income taxes as an individual or as a coorporation under the tax laws of the Democratic Republic of Hughland (DRH) [2]
This software allows clients to compare how much income taxes should be paid whether one is filing as an individual or as a corporation. Under the current tax laws of of the DRH, taxes are calculated as follows:
- 0%, for under $10,000
- 17% for the bracket between $10,000-$30,000
- 28% for the bracket between $30,000-70,000
- 35% for all income above $70,000
- 20% applied to the total income
- If income is above $80,000, then incurred losses can be subtracted from income
[1] The republic does not exist. (Hugh, however, does)
[2] Don't google it. As I said, it does not exist.