Corporate Tax

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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.
References in periodicals archive ?
Reiterating the need to lower corporate taxes as a means to boost Japanese companies' international competitiveness, Kan said that even if the corporate tax rate declines, tax revenue will be secured to some extent by a broadened tax base.
6% of GDP in 1953, by 2003 corporate taxes accounted for 7% of
A 15 percent across-the-board tax cut for personal income taxes and corporate taxes as well as other tax-cutting measures.
During the last few years, much of my research has studied how past conclusions about the role of corporate taxes change once we take into account the fact that economies are open.
In drafting Treasury I, Regan agreed to hit just about every tax preference in the IRS Code and to raise corporate taxes by a staggering $150 billion.
Kevin Hassett and Aparna Mathur from the American Enterprise Institute examined the effect of corporate income taxation on wages and found that every one percentage point increase in corporate taxes results in a 0.
is expected to pay corporate taxes for the first time in 13 years in the business year to March 2007 as the bank has been performing well amid Japan's economic recovery, banking industry sources said Tuesday.
TEI is also concerned about the new government's statement that it will maintain other corporate taxes, including potentially the Ontario capital tax, at today's rates.
The rate of actually levied corporate taxes ''should be lowered at least to the European level of 35%,'' Okuda said at a news conference.
An immediate cash flow benefit can be obtained by postponing some or all of the 1992 corporate taxes otherwise payable during 1993, if is estimated that a loss will occur in 1993.
Members of FEI's Committee on Taxation lead a discussion which examines the perception that an increase in corporate taxes is justified.
Whole industries now pay little or nothing in corporate taxes.

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