[small business owner]

I am a small business owner (Subchapter S) that pays no corporate income tax because 100% of the corporate earnings go to my personel return and is taxed at the hishest rate plus FICA. I read somewhere that over 70% of the corporations are subcapter S corps

[LetsRok]

"I am a small business owner (Subchapter S) that pays no corporate income tax because 100% of the corporate earnings go to my personel return and is taxed at the hishest rate plus FICA. I read somewhere that over 70% of the corporations are subcapter S corps"

What are you talking about? I am a S-Corp and my "profits" flow through to my 1040 and are taxed as normal income. This is not at the highest rate. I try to have as little as possible being distributed to myself. I declare a high salary and pay all the taxes up front.