For corporations with low taxable income (less than $100,000), the effective tax rate can be as much as 40%.

Name: For corporations with low taxable income (less than $100,000), the effective tax rate can be as much as 40%.
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The maximum federal income tax rate for corporations with taxable income less than $100,000 is 21%. State and local taxes may apply as well, but the overall effective tax rate for small corporations is typically lower than 40%.

For Corporations with Low Taxable Income (Less Than $100,000), the Effective