USA new startup in NY

[jride]

hey, I am starting a transportation service in NY. I am wondering how much tax I will be paying so i can put it into my plans. anybody know what percentage of revenue a corporation pays in taxes?
Thanks....

 

[Marshall]

You don't pay tax based on revenue, you pay it based on taxable income. Sales taxes, if you are subject to those, are based on sales but are collected from the buyer at the point of sale.

The corporate income tax rate in New York state is 7.1%

 

[infotaxsquare]

Hi,

You do not pay tax on Gross Revenue, you calculate tax on your net income. Anyway, best thing to reduce your taxes, pull out salary.

Regards,

InfoTaxSquare.com