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What would a flat rate corporate tax be based on?
Would it be applied to gross receipts, gross income, or net income.
Who would determine what should be ordinary and necessary business expenses?
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- SDDLv 71 decade agoFavorite Answer
It could be any of those things. All of that would be up to those in the legislature who write the tax law.
Keep in mind that corporations cannot actually pay a tax. they can only remit it after collecting it from people -- either customers, employees or owners.
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