Corporate Tax
$105,000
Corp Tax
Taxable Income
$500,000
Quarterly Estimate
$26,250
Effective Rate
10.50%
Summary
On $1,000,000 in gross revenue, your C corporation owes $105,000 in federal tax at the flat 21% rate after $200,000 in deductions.
The federal corporate tax rate is a flat 21% under the Tax Cuts and Jobs Act (TCJA). There are no progressive brackets for C corporations.
Your taxable income of $500,000 results in $105,000 in corporate tax, with quarterly estimated payments of $26,250.
The effective rate of 10.50% on gross revenue reflects the impact of your $200,000 in total deductions.
The QBI deduction (Section 199A) does not apply to C corporations — it is only available to pass-through entities like sole proprietorships, partnerships, and S corporations.
Income to Tax Journey
7 rows
| Step | Amount |
|---|---|
| Gross Revenue | $1,000,000 |
| Cost of Goods Sold | -$300,000 |
| Gross Profit | $700,000 |
| Operating Expenses | -$200,000 |
| Other Deductions | -$0 |
| Taxable Income | $500,000 |
| Corporate Tax (21%) | $105,000 |
Estimate based on the flat 21% federal corporate income tax rate. Does not include state corporate taxes, AMT, or accumulated earnings tax. Not tax advice.