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 and, individual, corporate, income and/or tax:
“We can most safely achieve truly universal tolerance when we respect that which is characteristic in the individual and in nations, clinging, though, to the conviction that the truly meritorious is unique by belonging to all of mankind.”
—Johann Wolfgang Von Goethe (1749–1832)
“We recognize caste in dogs because we rank ourselves by the familiar dog system, a ladderlike social arrangement wherein one individual outranks all others, the next outranks all but the first, and so on down the hierarchy. But the cat system is more like a wheel, with a high-ranking cat at the hub and the others arranged around the rim, all reluctantly acknowledging the superiority of the despot but not necessarily measuring themselves against one another.”
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—Louis B. Lundborg (1906–1981)
“The secret of success lies never in the amount of money, but in the relation of income to outgo.”
—Ralph Waldo Emerson (1803–1882)
“In 1845 he built himself a small framed house on the shores of Walden Pond, and lived there two years alone, a life of labor and study. This action was quite native and fit for him. No one who knew him would tax him with affectation. He was more unlike his neighbors in his thought than in his action. As soon as he had exhausted himself that advantages of his solitude, he abandoned it.”
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