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{"sheet":"Business Structure","index":0,"n_rows":56,"n_cols":6,"rows_kept":56,"cut":false,"hidden":false,"merged":[],"flags":["formulas_cached_only"]}
["[Company Name]"]
["Business Structure Selector"]
["[Date]"]
[]
["[Company Name] CONFIDENTIAL"]
["Gray cells will be calculated for you. You do not need to enter anything in them."]
["Planned number of owners",2]
["Required protection from personal liability","Low"]
["Net income for business",350000]
["Owner's share of income",175000]
["Salary received from business",50000]
["Owner's other income subject to self-employment tax",25000]
["Owner's marginal tax rate",0.28]
["State income tax rate on individual income",0.05]
["State income tax rate on business income",0.08]
[]
[null,"Sole Proprietorship","Partnership","Corporation","S Corporation","Limited Liability Corporation (LLC)"]
["Option available?","No","Yes","Yes","Yes","Yes"]
["If no, reason option not available","Number of planned owners","",null,""]
["Election to be treated as corporation? (Yes/No)",null,null,null,null,"Yes"]
["Business tax return required","None","Form 1065","Form 1120","Form 1120S","Form 1120"]
["Protection from personal liability","Low","Low","High","High","High"]
[]
["Estimated Tax Liability Caused by Business"]
["Salary from business","N/A",50000,50000,50000,50000]
["Business income currently taxable to owners","N/A",175000,0,175000,0]
["Percent that is self-employment income","N/A",1,0,0.5,0]
[]
["Income from business subject to self-employment tax","N/A",175000,0,87500,0]
["Business income taxable to business","N/A","N/A",175000,"N/A",175000]
[]
["Individual Tax"]
["FICA tax withheld from salary","N/A",3825,3825,3825,3825]
["Tax on individual tax return:"]
["   Federal income tax","N/A",63000.00000000001,14000.000000000002,63000.00000000001,14000.000000000002]
["   Self-employment tax","N/A",11127.020625000001,0,9890.685000000001,0]
["   Tax saved on self-employment tax deduction","N/A",-1557.7828875000002,0,-1384.6959000000004,0]
["   State income tax","N/A",11250,2500,11250,2500]
["      Total individual tax","N/A",87644.2377375,20325,86580.9891,20325]
[]
["Business Tax"]
["FICA tax withheld from wages","N/A",3825,3825,3825,3825]
["Tax on business return:"]
["   Federal income tax","N/A","N/A",59500,"N/A",59500]
["   State income tax","N/A","N/A",10000,"N/A",10000]
["      Total tax paid by business","N/A",3825,73325,3825,73325]
[]
["Tax on future year dividend on personal return:"]
["   Federal income tax","N/A","N/A",49000.00000000001,"N/A",49000.00000000001]
["   State income tax","N/A","N/A",6250,"N/A",6250]
["Total tax on individual income","N/A",91469.2377375,79400,90405.9891,79400]
["Total tax on business income",0,0,69500,0,69500]
["Total tax on combined income","N/A",91469.2377375,148900,90405.9891,148900]
["Effective tax rate — individual income","N/A",0.40652994550000005,0.35288888888888886,0.401804396,0.35288888888888886]
["Effective tax rate — business income","N/A","N/A",0.39714285714285713,"N/A",0.39714285714285713]
["Effective tax rate — combined income","N/A",0.40652994550000005,0.8508571428571429,0.401804396,0.8508571428571429]

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["[Company Name]"]
["Tax Calculations"]
["[Date]"]
[]
["[Company Name] CONFIDENTIAL"]
["Gray cells will be calculated for you. You do not need to enter anything into them."]
["Individual Income Tax Rates"]
[0.35]
[0.33]
[0.28]
[0.25]
[0.15]
[0.1]
[]
["Self-Employment (SE) Tax"]
["Maximum earnings",90000]
["Social security tax rate",0.124]
["Medicare tax rate",0.029]
[null,null,"Sole Proprietorship","Partnership",null,"S Corporation",null,"Limited Liability Corporation"]
["SE income from business",null,0,175000,null,87500,null,0]
["Other SE income",null,25000,25000,null,25000,null,25000]
["Total SE income",null,25000,200000,null,112500,null,25000]
["Taxable social security income",null,23087.5,83115,null,83115,null,23087.5]
["Social security tax",null,2862.85,10306.26,null,10306.26,null,2862.85]
["Medicare tax",null,669.5375,2410.335,null,2410.335,null,669.5375]
["Total SE tax",null,3532.3875,12716.595000000001,null,12716.595000000001,null,3532.3875]
["SE tax from [Company Name]",null,0,11127.020625000001,null,9890.685000000001,null,0]
[]
["FICA Tax for Employees and Businesses"]
["Maximum earnings",90000]
["Social security tax rate",0.062]
["Medicare tax rate",0.0145]
[]
["Corporate Tax Rate Schedule"]
["If taxable income is ","Over ","But not over","Tax is",null,null,"Of the \namount over ","Total \ncorporate tax","Owner's share"]
[null,0,50000,null,null,0.15,0,0,0]
[null,50000,75000,7500,"+",0.25,50000,0,0]
[null,75000,100000,13750,"+",0.34,75000,0,0]
[null,100000,335000,22250,"+",0.39,100000,0,0]
[null,335000,10000000,113900,"+",0.34,335000,119000,59500]
[null,10000000,15000000,3400000,"+",0.35,10000000,0,0]
[null,15000000,18333333,5159000,"+",0.38,15000000,0,0]
[null,18333333,"———",null,null,0.35,0,0,0]
["Total",null,null,null,null,null,null,119000,59500]