What is a Corporate Tax?
Corporate taxes are any type of taxes that a corporation is obligated to pay to local, state, and federal tax agencies in exchange for the privilege of being allowed to conduct business within the applicable jurisdictions. In most cases, each jurisdiction provides a clear set of guidelines for calculating the amount of corporate tax owed for any given tax period. Corporations are expected to file documents along with submitting regular payments of taxes according to the regulations set in place by the tax agency. The exact method for calculating a corporate tax will vary, as different jurisdictions may have different laws regarding the taxation of businesses and business earnings. In some cases, corporate tax is accessed on the amount of profit generated by the company; that is, taxes are not due on the actual collected revenue, but only on the portion that remains after the company has covered basic operational expenses. In other situations, the corporate tax is applied to the collect
