What is CORPORATE TAX?

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What is CORPORATE TAX? What does CORPORATE TAX mean? CORPORATE TAX meaning - CORPORATE TAX definition - CORPORATE TAX explanation. What is the meaning of CORPORATE TAX? What is the definition of CORPORATE TAX? What does CORPORATE TAX stand for? What is CORPORATE TAX meaning? What is CORPORATE TAX definition?

A corporate tax, also called corporation tax or company tax, is a type of direct tax levied on the income or capital of corporations and other similar legal entities. The tax is usually imposed at the national level, but it may also be imposed at state or local levels in some countries. Corporate taxes may be referred to as income tax or capital tax, depending on the nature of the tax.

The purpose of corporate tax is to generate revenue for the government by taxing the profits earned by corporations. The tax rate varies from country to country and is usually calculated as a percentage of the corporation's net income or capital. Corporate tax rates may also differ for domestic and foreign corporations.

Many countries have tax laws that require corporations to pay taxes on their worldwide income, regardless of where the income is earned. However, some countries have territorial tax systems, which only require corporations to pay taxes on income earned within the country's borders.