california: I am in the process of purchasing two small businesses in California, the expected combined net revenue should be around $200,000. What would I pay in taxes?|||That depends upon the type of corporation. An S-Corp's income flows directly to your Form 1040 tax return and is taxed as ordinary income. A C-Corp pays its own taxes, and each C-Corp stands on its own as a separate legal entity and is taxed based upon its own income alone. Without a LOT more details it's not possible to give any kind of meaningful estimate. Would need to know the type of corporation, how much net income for each, and if either is an S-Corp, your other income as well as your filing status, number of dependents if any, and your other tax issues on the table.|||TFTP Report Abuse