Come up with topic and I will discuss it with the professor then u can start writing - Essay Example

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Come up with topic and I will discuss it with the professor then u can start writing

Corporate income tax depends on the net taxable income. Where taxable income surpasses $335,000, all taxable income is subject to tax at 34 percent or 35 percent. Tax rate enforced below the federal level fluctuate from 1 percent to over 16 percent. Regulated Investment Companies (RICs) are the domestic corporations which during the taxable year are listed under the Investment Companies Act of 1940, as amended as a unit investment trust or a management company or to be treated as a business development company under such Act. This paper will focus on tax treatment of regulated investment companies and the corporate income tax and how do they differ from one another. Historical Content During the past decade, the corporate income tax has been the centre of attention of much debate and criticism in the United States (U.S.). It may be due to the low level of business investment in US and it has been also condemned as a primarily illogical and unfair tax because corporations are taxed as independent entities, in spite of the tax brackets of individual shareholders. The recent tax acts have lessened the corporate tax burden by substituting the system of several asset depreciation classes with three capital recovery classes. Business structures can be written off over fifteen years, other equipment over five years and light equipment over three years (Auerbach, 451-458). ...
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Tax Treatment Introduction Corporate income tax in United States is imposed at the federal level on the income of entities treated for tax purposes as corporations. Federal tax rate which is imposed on corporate taxable income differ from 15 percent to 35 percent…
Author : fhowe

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