A personal service corporation with taxable income of $10,000 for its 2012 calendar year will have a regular Federal income tax liability of $3,500 before credits or prepayments.

Name: A personal service corporation with taxable income of $10,000 for its 2012 calendar year will have a regular Federal income tax liability of $3,500 before credits or prepayments.
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A personal service corporation is taxed at a flat rate of 35% on its taxable income, so $10,000 x 35% = $3,500.

A Personal Service Corporation with Taxable Income of $10,000 for Its