The personal income tax of individual households is equivalent to the corporate income tax of the company, according to the personal income tax rate table II (applicable to the production and business income of individual industrial and commercial households and the income from contracting and leasing of enterprises and institutions)
Levels of taxable income for the whole year Tax rate (%)
1, not more than 15,000 yuan of 5
2, more than 15,000 yuan to 30,000 yuan of 10
3, more than 30,000 yuan to 60,000 yuan of 20
4, more than 30,000 yuan to 60,000 yuan of 15,000 yuan to 30,000 yuan 10
3, more than 30,000 yuan to 60,000 yuan 20
4, more than 60,000 yuan to 100,000 yuan 30
5, more than 100,000 yuan 35
(Note: The taxable income for the whole year as referred to in this table refers to the tax rate (%) in accordance with Article 6 of the Law. (Note: The annual taxable income referred to in this table refers to the balance after deducting costs, expenses, and losses from the total income of each taxable year in accordance with Article 6 of this Law).
Article 17: The costs and expenses referred to in Article 6, Paragraph 1, Item 2 of the Tax Law refer to the direct expenses incurred by the taxpayer in production and operation and the indirect expenses allocated to costs, as well as the selling expenses, administrative expenses and financial expenses; and the losses refer to the non-operating expenditures incurred by the taxpayer in the course of production and operation.
Expanded InformationIndividual business households should correctly establish books of accounts in accordance with the provisions of the tax department, accurate accounting. For individual business households with sound accounts and accurate accounting, the tax department shall implement the checking of accounts and levy; for individual business households with small scale of production and operation and without the ability to establish accounts, the tax department shall implement the regular fixed levy; for individual business households with certain circumstances, the tax department shall have the right to approve the amount of tax payable, and shall implement the approved levy.
Difference between individual business and sole proprietorship
According to the relevant provisions of the Regulations on Individual Business and the Law on Sole Proprietorship, there are the following similarities and differences between an individual business and a sole proprietorship:
I. Similarities
(1) the assumption of civil liability is unlimited;
(2) there is a personal property to bear Civil liability and family property to bear civil liability;
(c) are a natural person's name to invest in the establishment of the natural person is fully capable of civil liability;
(d) January to June each year, logging in the national enterprise credit information publicity system for the previous year's annual report publicity.
The differences
(1) there is a limit on the number of employees in an individual business, including the operator himself, helpers and apprentices, etc. shall not be more than eight employees; sole proprietorships do not have a limit on the number of employees, can be only the investor's personal business, but also can employ more than eight people.
(2) Temporary business, seasonal business, mobile business and stall business without a fixed front may not be registered as a sole proprietorship, but may be registered as an individual business.
(3) A sole proprietor may set up branches, but not an individual business. The branch set up by a sole proprietorship enterprise can be in the same jurisdiction as the sole proprietorship enterprise.
Baidu Encyclopedia - Individual Business Households