Individual and Corporate Income Tax
Section 1 of the Internal Revenue Code imposes the federal income tax on the taxable income of U.S. citizens and residents, and of estates and trusts. The corporate income tax is imposed by Internal Revenue Code section 11.
Read more about this topic: Internal Revenue Code
Famous quotes containing the words individual, corporate, income and/or tax:
“A name pronounced is the recognition of the individual to whom it belongs. He who can pronounce my name aright, he can call me, and is entitled to my love and service.”
—Henry David Thoreau (1817–1862)
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“Strictly speaking, every citizen above a certain level of income is guilty of some offense.”
—Max Frisch (1911–1991)
“I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)