Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Corperative Income Tax: Effective Tax Rates Can Differ Significantly from the Statory Rate

Corperative Income Tax: Effective Tax Rates Can Differ Significantly from the Statory Rate

Government Accountability Office

Paperback

General Reference

ISBN10: 150318465X
ISBN13: 9781503184657
Publisher: Createspace
Published: Dec 31 2014
Pages: 44
Weight: 0.28
Height: 0.09 Width: 8.50 Depth: 11.02
Language: English
The base of the federal corporate income tax includes net income from business operations (receipts, minus the costs of purchased goods, labor, interest, and other expenses). It also includes net income that corporations earn in the form of interest, dividends, rent, royalties, and realized capital gains. The statutory rate of tax on net corporate income ranges from 15 to 35 percent, depending on the amount of income earned. The United States taxes the worldwide income of domestic corporations, regardless of where the income is earned, with a foreign tax credit for certain taxes paid to other countries. The timing of the tax liability depends on several factors. For example, income earned not by the domestic corporation, but by a foreign subsidiary is generally not taxed until a distribution-such as a dividend-is made to the U.S. corporation.

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