Answered

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How is corporate income tax structured in Texas?

A. There is no corporate income tax.
B. Most small corporations can avoid paying thanks to subsidy and incentive structures.
C. Most large corporations can avoid paying thanks to subsidy and incentive structures.
D. Corporations are taxed at rates based on a complex formula that grants some abatements.

Sagot :

GinnyAnswer

Final answer:

Corporate income tax in Texas does not exist; instead, corporations are taxed based on a complex formula with some abatements. The system includes various forms of taxation like property tax and payroll tax. Efficiency in taxation is crucial as the corporate income tax can create market distortions and impact large corporations.


Explanation:

Corporate income tax in Texas follows a structure where corporations are taxed based on a complex formula, granting some abatements. While there is no corporate income tax in Texas, the tax system includes various forms of taxation such as property tax and payroll tax. Efficiency in taxation is also an important consideration, with experts noting that the corporate income tax can lead to market distortions and challenges for large corporations.


Learn more about Corporate income tax in Texas here:

https://brainly.com/question/14332478


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