Taxation is forever a part of our lives. This is true of individuals as well as of corporations....

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Taxation is forever a part of our lives. This is true of individuals as well as of corporations. This exercise looks at some tax-related issues for corporations. Visit the IRS’s Web site. The IRS provides information in various forms regarding tax filing. Look for information dealing with corporate income taxes on this site or in extra research you conduct. There has been serious debate in the past about eliminating the corporate income tax due to its high compliance costs relative to the amount of revenue raised by the tax. Concerns have also been raised regarding the double taxation of dividends. Because dividends are paid with after-tax dollars, eliminating the corporate income tax would eliminate the double taxation. Citing data contained on this page or through research that you have conducted, discuss the merits of reducing or eliminating corporate income taxation.Discussion QuestionsWould you advocate raising the ceiling so that only the largest corporations, as measured by assets, are taxed? Explain.Identify strategies that companies use to minimize taxes they pay.

Akash · Accepted Answer

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Title: Taxation
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Question 1
Yes, I would advocate raising the ceiling so that only the largest corporation, measured through assets are taxed because the current rule provides relief to the big organization. In addition, they put a lot of effort and resources in avoiding their taxes. However, as they have too much of everything. The big organizations need to pay their taxes. Therefore, the administrative bodies do not need to put too much pressure on the small companies. Furthermore, affecting ceiling raising only for the largest corporation will solve different issues with dividends or double taxation.  As for now,

Taxation is forever a part of our lives. This is true of individuals as well as of corporations. This exercise looks at some tax-related issues for corporations. Visit the IRS’s Web site. The IRS...

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