aamilla learning The statments below refer to the corporate income tax in the Un
ID: 1111633 • Letter: A
Question
aamilla learning The statments below refer to the corporate income tax in the United States. Determine if each is true or false and place it in the proper bin. True False Corporate income tax brackets range from 1-99%. Some economists consider the corporate income tax a "double tax and argue that this is problematic. Corporate income tax brackets range from 15-35%. Corporations are never taxed at the highest rate because of the existence of many tax loopholes. corporate income tax is a progressive tax. O Previous Give Up & View Solution e Check Answer al Next HintExplanation / Answer
1) corporate income tax brackets range from 1 - 99 % - FALSE . It is from (15-35) % .
2) corporate income tax brackets range from 15-35 % - TRUE .
3) The corporate income tax is a progressive tax - TRUE .
4) Some economists consider the corporate income tax a "double tax" and argue that this is problematic. - TRUE .
Yes it is true. Double taxation occur when you paid taxes two times on your same source income. You have to pay taxes on the basis of corporate level and personal level when you share your dividend to the shareholders.
5) Corporation are never taxed at the highest rate because of the existence of many tax loopholes - TRUE.
In USA the highest corporate tax rate is 35%. But hardly any company pays that. From 2008 to 2015, many companies did not pay taxes atleast one time between that period. This is only for the tax loopholes.
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