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Encyclopedia > Corporate tax in the United States
Taxation in the United States

This article is part of the series:
Politics and government of
the United States
Taxation in the United States is a complex system which may involve payment to at least four different levels of government. ... The Great Seal of the United States, obverse side. ... Federal courts Supreme Court Chief Justice Associate Justices Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Counties/Parishes/Boroughs, Cities, and Towns Other countries Politics Portal      Politics of the United States takes place in a framework of a presidential...


Federal taxation
Internal Revenue Service
Tax forms
Income tax  ·  Payroll tax
Alternative Minimum Tax
Estate tax  ·  Excise tax
Gift tax  ·  Corporate tax
Capital gains tax
State & local taxation
State income tax
Sales tax  ·  Use tax
State tax levels
Property tax
Federal tax reform
FairTax  ·  Flat tax
Tax protester arguments
Constitutional
Statutory  ·  Conspiracy
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Corporate tax in the United States is a tax on the taxable income of a C corporation or an entity taxed as a C corporation. The corporate tax is the default tax levied on a business entity unless the entity qualifies to be taxed under different tax rules such as those for non-profit organizations and S corporations. Personal services corporations are taxed at a flat rate of 35% unlike other corporations. The corporation is taxed under 26 U.S.C. § 11 and Subchapter C (26 U.S.C. § 301 et seq.) of Chapter 1 of the Internal Revenue Code. Taxation in the United States is a complex system which may involve payment to at least four different levels of government. ... Seal of the Internal Revenue Service The Internal Revenue Service (IRS) is the United States federal government agency that collects taxes and enforces the internal revenue laws. ... Seal of the Internal Revenue Service Tax forms in the United States are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service (IRS). ... The United States imposes an income tax on the taxable income of individuals, corporations, trusts, decedents estates and certain bankruptcy estates. ...        Alternative Minimum Tax (AMT) is a tax system that is part of the federal income tax system in the United States. ... Inheritance tax, also known in some countries outside the United States as a death duty and referred to as an estate tax within the U.S, is a form of tax levied upon the bequest that a person may make in their will to a living person or organisation. ... A capital gains tax (abbreviated: CGT) is a tax charged on capital gains, the profit realized on the sale of an asset that was purchased at a lower price. ... Taxation in the United States is a complex system which may involve payment to at least four different levels of government. ... State income tax is an income tax in the United States that is levied by each individual state. ... A sales tax is a tax on consumption and is normally a certain percentage that is added onto the price of a good or service that is purchased. ... A use tax is a type of excise tax levied in the United States. ... State tax levels indicate both the tax burden and the services a state can afford to provide residents. ... Property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. ... Tax reform is the process of changing the way taxes are collected or managed by the government. ... The FairTax Book, co-authored by Neal Boortz and John Linder, was published on August 2, 2005, as a tool to increase public support for the FairTax Plan. ... A flat tax, also called a proportional tax, is a system that taxes all entities in a class (typically either citizens or corporations) at the same rate (as a proportion on income), as opposed to a graduated, or progressive, scheme. ... Tax protester arguments are a number of heterodox theories that deny that a person has a legal obligation to pay a tax for which the government has determined that person is liable. ... Tax protesters in the United States make a number of statutory arguments that the assessment of the income tax in the United States violates the statutes enacted by the United States Congress and signed into law by the President. ... Tax protester conspiracy arguments are arguments raised by tax protesters that assert that the imposition of the income tax in the United States is the result of some kind of illicit conspiracy. ... Image File history File links This is a lossless scalable vector image. ... Image File history File links Flag_of_Canada. ... Image File history File links Flag_of_France. ... Image File history File links Flag_of_Germany. ... Image File history File links Flag_of_Hong_Kong. ... Image File history File links Flag_of_India. ... Image File history File links Flag_of_Indonesia_(bordered). ... Image File history File links Flag_of_New_Zealand. ... Image File history File links Flag_of_Ireland. ... Image File history File links Flag_of_Russia_(bordered). ... Image File history File links Flag_of_Singapore_(bordered). ... Image File history File links Flag_of_the_United_Kingdom. ... Image File history File links No higher resolution available. ... Image File history File links European_flag. ... Corporate tax refers to a direct tax levied by various jurisdictions on the profits made by companies or associations. ... Taxable income is the portion of income that is the subject of taxation according to the laws that determine what is income and the taxation rate for that income. ... A C corporation (or C corp. ... A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (for example, tribes, secessionist movements or revolutionary movements). ... An S corporation or S-corp, for US federal tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. ... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes...

Contents

Tax rates

The corporate tax uses a marginal tax rate system. The marginal rates have shifted over time resulting in the current system with marginal rates that rise with taxable income, then fall, then rise, only to fall again for the bracket with the highest taxable income. In addition to the below rates, depending on tax preference items, a corporation may be subject to alternative minimum tax if their tax under the marginal tax rate system is less than the alternative minimum tax. In the tax system and in economics, the marginal tax rate refers to the increase in ones tax obligation as ones taxable income rises: marginal tax rate = Δ(tax obligation)/Δ(taxable income) This can be measured either by looking at the published tax tables (to get the official marginal...

Taxable Income ($) Tax Rate Deduction ($)
0 to 50,000 15% 0
50,000 to 75,000 25% 5,000
75,000 to 100,000 34% 11,750
100,000 to 335,000 39% 16,750
335,000 to 10,000,000 34% 0
10,000,000 to 15,000,000 35% 100,000
15,000,000 to 18,333,333 38% 550,000
18,333,333 and up 35% 0

Accumulated earnings tax

In addition to the marginal and alternative minimum taxes a corporation that accumulates excess earnings without paying them out to shareholders as dividends may be subject to a 15% accumulated earnings tax. It has been suggested that ex-dividend date be merged into this article or section. ...


Estimated payments

Corporations are generally required to make installment payments of their expected tax liability each quarter.


See also

Corporate tax refers to a direct tax levied by various jurisdictions on the profits made by companies or associations. ... Corporate welfare is a pejorative term, first coined by Ralph Nader in 1956, describing a governments bestowal of grants and/or tax breaks on corporations or other special favorable treatment from the government. ...

External links

  • IRS Publication 542: Corporations (pdf)

 
 

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