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Corporate Tax: Definition, Deductions, How It Works - Investopedia
https://www.investopedia.com/terms/c/corporatetax.asp
WEBJan 22, 2024 · The federal corporate tax rate in the United States is currently a flat 21%, as a result of the Tax Cuts and Jobs Act (TCJA), which President Donald Trump signed into law in 2017 and which went...
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How does the corporate income tax work? | Tax Policy Center
https://www.taxpolicycenter.org/briefing-book/how-does-corporate-income-tax-work
WEBThe corporate income tax is the third-largest source of federal revenue, although substantially smaller than the individual income tax and payroll taxes. It raised $424.7 billion in fiscal year 2022, 8.7 percent of all federal revenue …
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About Form 1120, U.S. Corporation Income Tax Return
https://www.irs.gov/forms-pubs/about-form-1120
WEBAbout Form 1120, U.S. Corporation Income Tax Return. Domestic corporations use this form to: Report their income, gains, losses, deductions, credits. Figure their income tax liability. Current Revision. Form 1120 PDF. Instructions for Form 1120 ( Print Version PDF) Recent Developments.
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Corporate Income Tax Definition | TaxEDU Glossary
https://taxfoundation.org/taxedu/glossary/corporate-income-tax-cit/
WEBA corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies are not subject to the CIT because they are taxed as pass-through businesses, with income reportable under the individual income tax.
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Corporate Income Tax: Definition, History, and Rate - The Balance
https://www.thebalancemoney.com/corporate-income-tax-definition-history-effective-rate-3306024
WEBMay 31, 2022 · Federal tax rate of 35% for the highest income brackets. A top statutory corporate tax rate of 39.1%, including state corporate taxes. But most large corporations never paid that much. The average corporate tax rate was 29% in 2012, according to a 2017 report by the Congressional Budget Office.
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United States - Corporate - Taxes on corporate income
https://taxsummaries.pwc.com/united-states/corporate/taxes-on-corporate-income
WEBFeb 7, 2024 · The Inflation Reduction Act, P.L. 117-169 (IRA) enacted a new corporate AMT, effective for tax years beginning after 2022, based on financial statement income (corporate alternative minimum tax or CAMT). The CAMT is a 15% minimum tax on adjusted financial statement income (AFSI) of C corporations.
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Publication 542 (01/2024), Corporations | Internal Revenue Service
https://www.irs.gov/publications/p542
WEBThis publication discusses the general tax laws that apply to ordinary domestic corporations. It provides supplemental federal income tax information for corporations. It also supplements the information provided in the Instructions for Form 1120, U.S. Corporation Income Tax Return.
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Corporate tax in the United States - Wikipedia
https://en.wikipedia.org/wiki/Corporate_tax_in_the_United_States
WEBSince January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017.
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Corporations | Internal Revenue Service
https://www.irs.gov/corporations
WEBFeb 12, 2024 · This site provides e-file information for corporations that prepare and transmit their own electronic corporate income tax returns and those that use the services of third party tax professionals. FASB Interpretation No. 48, Accounting for Uncertainty in …
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Corporate Income Tax: Definition, Rates, and Formula - Stock …
https://stockanalysis.com/term/corporate-income-tax/
WEBDec 5, 2022 · Corporate income tax is the total tax that a company must pay on profits earned. It's calculated by taking taxable income and multiplying it by the corporate tax rate, like so: Corporate income tax = taxable income x corporate tax rate. Corporate income tax has a considerable impact on a business's cash flow.
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