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Corporate Tax |
Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson | 0.01 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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| Whether promoters should be treated as shareholders, thus voiding the S election and S corporation tax treatment. But others are new, such as extending the state sales tax to currently-exempted services, raising commercial property tax rates, closing a subchapter "S" corporation tax loophole and increasing penalties for certain air pollution violations. The FTB said it has noticed that some taxpayers who are subject to the apportionment and allocation provisions under Chapter 17 of the Corporation Tax Law have filed original returns that are inconsistent with rules provided in the Revenue and Taxation Code, Secs. |
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