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What type of tax must a business pay in its profits to the federal government and some state and local governments?
A business must pay corporate income tax on its profits to the federal government, as well as potentially to state and local governments, depending on their tax regulations. This tax is calculated based on the company's net income after deductions for expenses, and the rates can vary by jurisdiction. Additionally, some businesses may also be subject to alternative taxes, such as franchise taxes or gross receipts taxes, depending on the location and structure of the business.
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What type of tax must a business pay on its profits to the federal government and some state and local governments?
corporate tax
What is an example of corporate income tax?
An example of corporate income tax is the tax levied on a corporation's profits by federal, state, or local governments. For instance, in the United States, the federal corporate income tax rate is typically 21% on taxable income after deductions and credits. Companies like Apple or Microsoft pay this tax on their net earnings, which is calculated after accounting for various business expenses. This tax is a significant source of revenue for governments, funding public services and infrastructure.
Corporate federal income taxes are .?
Corporate federal income taxes are taxes imposed on the profits of corporations by the federal government. These taxes are calculated based on the corporation's taxable income, which is derived from revenues minus allowable deductions and expenses. The current federal corporate tax rate, established by the Tax Cuts and Jobs Act of 2017, is a flat 21%. These taxes are a significant source of revenue for the federal government and can influence corporate behavior and investment decisions.
What is reinvested profit?
Reinvested profits is also known as retained profit/earnings. The profits are put back into the business for things such as expanding business. Using reinvested profits is an internal source of finance.There is no charges such as interest, dividends or administration.However, if profit is used by the business, it cannot be returned to the owners. Some owners might object to this.
What is a primary characteristic that distinguishes governmental entities from business entities?
The main difference is the purpose of the entity. A business entity's goal is to maximize its shareholder value by earning profits. Government entities exist for various purposes that Congress has determined are necessary either for the government to function properly, or to fill a perceived social need that is not being adequately supplied by the private sector. Since government entities are financed primarily through tax dollars, they are not supposed to earn profits... only enough money to accomplish their specific goals.
What type of tax must a business pay on its profits to the federal government and some state and local governments?
corporate tax
What type of tax must a business pay on it's profits to the federal government and some state and local governments?
corporate tax
What type of tax must a business pay on its profits to the US federal government and local state governments?
Businesses in the U.S. are required to pay federal income tax on their profits, which is determined by the corporate tax rate set by the IRS. Additionally, many states impose their own corporate income taxes on business profits, which can vary significantly from one state to another. Some local jurisdictions may also levy taxes on business income, further contributing to the overall tax burden. It's essential for businesses to comply with both federal and state tax regulations to avoid penalties.
What is the significance of the industrialization?
War is big business and big business can afford to promote and lobby governments to go to war. Big business profits, many government officials profit and the people are cannon fodder.
What is the significance of the military industrial complex?
War is big business and big business can afford to promote and lobby governments to go to war. Big business profits, many government officials profit and the people are cannon fodder.
Government actions that affect business profits are called?
taxes
What is the role of government in trade dispute?
Federal Government - puts competitive tax on profits to attract buisnesses
Why were many African governments unstable after gaining their independance?
some governments experienced corruption and poor planning. also, many government leaders were taking the countries profits and putting them into their own personal foreign banks.
How do the institutional and government markets differ from business markets?
Institution and governments run almost identically like business markets except for a couple things. The main thing is these markets may not focus so much on profits rather than growth. Also institutional and government markets are under the public eye a lot more.
What did harding do to help business?
Harding used laissez-fair as a business improvement. It wasn't simply for government to keep their hands off business, but for government to help guide business along the path to profits.
What best describes hardings attitude toward business?
He felt the government should cooperate with business to achieve greater profits
What describes warren hardings attitude towards business?
He felt the government should cooperate with business to achieve greater profits
