In the US, only if your corporation is a "C" corporation. For an "S" corporation, the income, distributed or undistributed, is treated as income on the individ

In the US, only if your corporation is a "C" corporation. For an "S" corporation, the income, distributed or undistributed, is treated as income on the individual tax returns of the owners. So if you and a partner own an S corporation, and you make $800k in net income and pay yourselves $100,000 in salary each, you would pay yourselves salaries (SS & Medicare tax on that portion) and then income tax on the net income + salary, so you would owe about $156,000 in income tax, plus whatever your state charges, and you would owe about $8,000 in SS+Medicare (because the company has already paid the other half). Rough numbers, of course. This would asymptotically approach 37% of income as your income increases (plus state tax).