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Corporate Tax |
Also found in: Acronyms, Encyclopedia, Wikipedia | 0.03 sec. |
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Corporate Tax A tax levied on corporations' profits. Because corporations are legal entities separate from their owners, they may be taxed as if they were persons. A corporate tax, then, is the equivalent of the income tax for natural persons. Corporate taxes vary from country to country; in the United States, they are levied at both the federal and state levels. Proponents of the corporate tax argue it guards against excessive profits that may result from unethical or illegal corporate practices, while opponents say that corporations simply pass on the tax to their customers. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Review the competitiveness of the Canadian corporate income tax structure, especially the tax rates, and encourage the provinces to follow suit with a review of their income, capital, and sales tax regimes; encourage the provinces to harmonize their sales tax systems with the GST, as well. 1, 2008, and the reduction in the corporate income tax rate-to 19 per cent by 2010; The new rules do not change the current method for filing extensions for corporate income tax returns; rather, they broaden its scope. |
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