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:
“The American people are doing their job today. They should be given a chance to show whether they wish to preserve the principles of individual and local responsibility and mutual self-help before they embark on what I believe to be a disastrous system. I feel sure they will succeed if given the opportunity.”
—Herbert Hoover (1874–1964)
“The corporate grip on opinion in the United States is one of the wonders of the Western World. No First World country has ever managed to eliminate so entirely from its media all objectivity—much less dissent.”
—Gore Vidal (b. 1925)
“I had always been so much taken with the way all English people I knew always were going to see their lawyer. Even if they have no income and do not earn anything they always have a lawyer.”
—Gertrude Stein (1874–1946)
“What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)