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Corporate Tax
Larry Young, Jr.
Fall 2008

Tuesday, August 26, 2008
Subchapter C – C Corporations (History)
- p. 7; Historically individual federal rates were as high as 70%.
- Corporate rates were at 46% (check this) before Reagan’s administration as President. Of course there were some lower corporate rates at an income level b/t $0 and $75K. Once you reach approx. $320K, you are at a flat 34% today. This is b/c you recoup the savings from the earlier lower rates. This is today.
- At this time, many people preferred to have the limited liability of a corporation and the lower tax rate. Of course, you know that a corporation pays tax on its income. The corporation is a separate, distinct tax payer from the individuals managing the corporation.
- Corporate profits are distributed as dividends. There is a shareholder tax on dividends. This is the second level of tax on corporations.
- Domestic International Sales Corporation – Exports flow through a company......

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Approximate Word Count: 20672
Approximate Pages: 83 (250 words per double-spaced page)

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