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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
Do businesses pay taxes?
In one way or another, they pay income taxes on profits, property, vehicles, and every other tax that everyone else pays. Depending on the type of business and how it is formed, determines how the income tax is paid and on what type of tax return.
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.
Can companies donate to non-profits for tax purposes?
Yes, companies can donate to non-profits for tax purposes. Contributions to qualified charitable organizations are typically tax-deductible as a business expense, which can reduce the company's taxable income. However, the specifics can vary based on the type of organization and local tax laws, so companies should consult with a tax professional to ensure compliance and maximize potential benefits.
What type of business structure liability is limited only to the assets of the business and does not extend to individuals?
Corporation
Which type of business does the owner not have to share any profits?
privately owned business owners share no profits. they pay taxes and that is not sharing profit.
This type of business organization has one or more individuals sharing in profits?
A partnership is a business where two or more people come together to start and run a business. Some of the attributes of this type of business is that two or more people share in the profits and losses.
What is cyclical business?
a type of bike used during the discussion of profits.
This type of business organization has one or more individuals sharing in this profits?
partnership
What taxes do business owners pay on their profits and income?
Business owners typically pay income tax on their profits and income. Additionally, they may also be subject to self-employment tax, payroll taxes, and other business-related taxes depending on the type of business structure they have.
Match each type of business with the person or persons who get to keep the business's profits.?
In a sole proprietorship, the individual owner retains all profits. In a partnership, profits are shared among the partners according to their agreement. In a corporation, profits are distributed to shareholders in the form of dividends, while the corporation itself also reinvests some profits for growth. In a limited liability company (LLC), profits can be distributed to members according to their ownership percentages or as outlined in the operating agreement.
What type of tax must a business pay on its profits to the federal government and some state and local governments?
corporate tax
Which business type is subjected to double taxation?
C corporations are the business type that is subjected to double taxation. This occurs when the corporation's profits are taxed at the corporate level, and then again at the individual level when those profits are distributed to shareholders as dividends. In contrast, pass-through entities like S corporations and partnerships avoid double taxation, as profits are only taxed at the owner's personal income tax rate.
What are the average profits of email advertising?
Email advertising offers a great way to expand one's business. The average profits depend on the type of business being advertised. Non-profit businesses see the most gain from email advertising at near 46%, while banking businesses may only see profits of 16%.
What is the main source of income of Google?
"The number 1 browser today earns its highest profits and revenues through providing relevant, and informed advertising of its sponsors. Last year this type of revenue brought in the highest profits for the company."
What type of tax must a business pay on it's profits to the federal government and some state and local governments?
corporate tax
Identify the main goals and functions of US Business?
The main goal of most of the US business is to make profits. Depending with the type of business, the US businesses have the role of providing certain goods and services to its customers.
