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English definition of “corporate income tax”

corporate income tax

noun [U or C]
 
 
US ( UK corporation tax)
TAX tax that a company has to pay on its profits: This development led to a significant reduction in the amount of corporate income tax that was paid. US states have varying rates for corporate income taxes.
→ Compare personal income tax
(Definition of corporate income tax from the Cambridge Business English Dictionary © Cambridge University Press)
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