Corporate income tax in the United States

Corporate income tax in the United States

Corporate income tax is an important part of the country’s tax system. It is a tax on the income of joint-stock companies. The tax was widely spread after the Second World War. Net profit, i.e. gross profit reduced by the amount of allowed deductions and tax benefits, is subject to taxation. The tax is progressive. This tax is levied in steps, which is of great importance for small and medium-sized enterprises with low gross income. 

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