Wiktionary
n. (context economics English) A tax levied on a corporation, especially on its profits; corporation tax
Wikipedia
A corporate tax, also called corporation tax or company tax, is a tax on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. Partnerships are generally not taxed at the entity level. A country's corporate tax may apply to:
- corporations incorporated in the country,
- corporations doing business in the country on income from that country,
- foreign corporations who have a permanent establishment in the country, or
- corporations deemed to be resident for tax purposes in the country.
Company income subject to tax is often determined much like taxable income for individuals. Generally, the tax is imposed on net profits. In some jurisdictions, rules for taxing companies may differ significantly from rules for taxing individuals. Certain corporate acts, like reorganizations, may not be taxed. Some types of entities may be exempt from tax.
Countries may tax corporations on its net profit and may also tax shareholders when the corporation pays a dividend. Where dividends are taxed, a corporation may be required to withhold tax before the dividend is distributed.
Usage examples of "corporate tax".
Meyer had some talks with people on the Nassau Development Board about the economic consequences of a change in the corporate tax structure or some damn thing, at your usual per them and expenses.
But since FLAG is ultimately owned and controlled by a Bermuda company and the capacity on the cable is sold out of Bermuda, the invoices all come out of Bermuda and the money all comes into Bermuda, which by an odd coincidence happens to be a major corporate tax haven.
He had been working on this damn corporate tax assessment case since Monday a week ago, and he wasn’.
He had been working on this damn corporate tax assessment case since Monday a week ago, and he wasn't any closer to a resolution of its multiple legal dilemmas now than he had been when he had first picked it up.