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  2. Corporate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax_in_the...

    The most common federal taxable income is based on apportionment formulae. State and municipal taxes are deductible expenses for federal income tax purposes. [12] Most states tax domestic and foreign corporations on taxable income derived from business activities apportioned to the state on a formulary basis. Many states apply a "throw back ...

  3. Corporate tax - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax

    Corporate tax rates generally are the same for differing types of income, yet the US graduated its tax rate system where corporations with lower levels of income pay a lower rate of tax, with rates varying from 15% on the first $50,000 of income to 35% on incomes over $10,000,000, with phase-outs.

  4. Taxation in the United States - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_United_States

    The tax allowed deductions for business expenses, but few non-business deductions. In 1918 the income tax law was expanded to include a foreign tax credit and more comprehensive definitions of income and deduction items. Various aspects of the present system of definitions were expanded through 1926, when U.S. law was organized as the United ...

  5. Income tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_the_United...

    The cost of goods sold in a business is a direct reduction of gross income. Business deductions: Taxable income of all taxpayers is reduced by deductions for expenses related to their business. These include salaries, rent, and other business expenses paid or accrued, as well as allowances for depreciation.

  6. List of countries by tax rates - Wikipedia

    en.wikipedia.org/wiki/List_of_countries_by_tax_rates

    The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance tax. Personal income tax includes all applicable taxes, including all unvested social security contributions.

  7. Passive income: How is it taxed? - AOL

    www.aol.com/finance/passive-income-taxed...

    Taxes on interest from bank accounts and most bonds (corporate, Treasury) are assessed at ordinary tax rates and are due when you file your income taxes for that year. Municipal bonds are an ...

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