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corporation tax |
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corporation taxTax levied on a company's trading profits. It is a form of income tax, and rates vary according to country, but there is usually a flat rate. It is a large source of revenue for governments. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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In connection with the Committee on Finance's June 13 hearing on several "hot button" issues including "disclosure of corporate returns," I write to express Tax Executives Institute's opposition to public disclosure of corporate tax returns. Corporate Tax Audit Survival--A View of the IRS Through Insider Eyes, by Cliff Jernigan (Olive Hill Press, 2005), shows how to conduct a successful audit, and how to keep changes (if any) to a minimum. To increase the transparency of corporate tax return filings, the Treasury Department and IRS released a draft of the final version of the Schedule M-3, Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More, for use by certain corporate taxpayers filing Form 1120, U. |
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