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Corporate taxes in the US are based on business profits. $0 profit = $0 net income (gross income minus expenses) => $0 income tax. There's no such thing as a n
by manigandham 7y ago
Corporate taxes in the US are based on business profits. $0 profit = $0 net income (gross income minus expenses) => $0 income tax.
There's no such thing as a negative profit. That's called a loss.
- dnautics 7y agoby my reading the parent was comparing personal income tax policy with corporate income tax policy, and as a person you can take a loss and still be taxed.