An official document that income tax payers are required to complete to state income amounts, deductions, contributions and related financial information for tax purposes
Tax imposed by public authorities on the incomes of corporations. Virtually all countries assess taxes on the net profits of corporations; most are flat-rate levies rather than extensively graduated taxes. A corporate income tax was adopted by the U.S. government in 1909; three-fourths of the states also levy corporate income taxes. See also capital gains tax; income tax