Hey everyone, looking for some quick feedback to confirm my understanding of how my taxes as an S-Corp business will be calculated. Is the below scenario accurate?

1. As an employee of the S-Corp, payroll to myself is subject to the standard W2 Payroll taxes
2. For the year, an annual tax amount is calculated on the Net Operating Income/Profit at my personal individual tax rate/bracket.

Is this what I should expect?

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Thanks!