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Corporate Taxation in the United States: Corporate Tax in the United States, Limited Liability Company, Kpmg Tax Shelter Fraud, L3c

Corporate Taxation in the United States: Corporate Tax in the United States, Limited Liability Company, Kpmg Tax Shelter Fraud, L3c


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About the Book

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 31. Chapters: Corporate tax in the United States, Limited liability company, KPMG tax shelter fraud, L3C, Entity classification election, S corporation, Windfall profits tax, Series LLC, Comparison of Cash Method and Accrual Method of accounting, Dividends received deduction, Internal Revenue Code section 79, C corporation, Blocker corporation, Unrelated Business Income Tax, Excess profits tax, Undistributed profits tax. Excerpt: Corporate tax is imposed in the United States at the Federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. Federal tax rates on corporate taxable income vary from 15% to 35%. State and local taxes and rules vary by jurisdiction, though many are based on Federal concepts and definitions. Taxable income may differ from book income both as to timing of income and tax deductions and as to what is taxable. Corporations are also subject to a Federal Alternative Minimum Tax and alternative state taxes. Like individuals, corporations must file tax returns every year. They must make quarterly estimated tax payments. Controlled groups of corporations may file a consolidated return. Some corporate transactions are not taxable. These include most formations and some types of mergers, acquisitions, and liquidations. Shareholders of a corporation are taxed on dividends distributed by the corporation. Corporations may be subject to foreign income taxes, and may be granted a foreign tax credit for such taxes. Shareholders of most corporations are not taxed directly on corporate income, but must pay tax on dividends paid by the corporation. However, shareholders of S Corporations and mutual funds are taxed currently on corporate income, and do not pay tax on dividends. Corporate income tax is imposed at the federal level on all entities treated as corporations (see...


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Product Details
  • ISBN-13: 9781155895499
  • Publisher: Books LLC, Wiki Series
  • Publisher Imprint: Books LLC, Wiki Series
  • Height: 246 mm
  • No of Pages: 32
  • Spine Width: 2 mm
  • Weight: 77 gr
  • ISBN-10: 1155895495
  • Publisher Date: 26 Jul 2011
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Sub Title: Corporate Tax in the United States, Limited Liability Company, Kpmg Tax Shelter Fraud, L3c
  • Width: 189 mm


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