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Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017.
Most business expenses reduce taxable income, though limits apply to a few expenses. Individuals are permitted to reduce taxable income by personal allowances and certain non-business expenses, including home mortgage interest, state and local taxes, charitable contributions, and medical and certain other expenses incurred above certain percentages of income.
In early 2017 MyVoucherCodes acquired Happiour, a geo-location based app that offers consumers local food and drink offers. [7] Between 2015 and 2017 the company made YouTube ads with students from the School of Communication Arts on a budget of £700 that parodied the John Lewis Christmas TV ads. [8] [9] [10] In July 2017, Monitise, the parent company of MyVoucherCodes was acquired by US ...
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An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income ). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.
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