Asked by Bryce Burns on Apr 25, 2024
Verified
Corporate income taxes are based on the amount of revenue a corporation earns.
Corporate Income Taxes
Taxes imposed on the income or profit of corporations by the government.
Revenue
The combined income stemming from a firm's core operations through selling products or offering services.
- Understand the various forms of taxation, such as excise, personal income, and corporate taxes, and their impact on the economic landscape.
Verified Answer
DR
Daanesh Rabindhran7 days ago
Final Answer :
False
Explanation :
Corporate income taxes are based on the profits a corporation earns, not the total revenue. Profits are calculated by subtracting expenses from the total revenue.
Learning Objectives
- Understand the various forms of taxation, such as excise, personal income, and corporate taxes, and their impact on the economic landscape.