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Yes because there are multiple people. You. Plumbler. Landlord. Each person is a different person and pays income tax on "their income"
by 2Gkashmiri 1y ago
Yes because there are multiple people.
You.
Plumbler.
Landlord.
Each person is a different person and pays income tax on "their income"
- immibis 1y agoAre corporations people?
- 2Gkashmiri 1y agolegal persons, yes edit: because they can sue and be sued in a court of law. you cannot sue "god" or "gravity" or "Pythagoras theorum"
- PaulDavisThe1st 1y agoIf shareholders are the same legal person as the corporation, what is the purpose of the corporation? If the corporation shields the shareholds from many forms of liability, why should the shareholders be able to claim the same personhood when it comes to income and taxation? If corporations are said to be able to have moral and religious beliefs (thanks, SCOTUS), and yet their shareholders are free to have other, different beliefs, how can they considered the same person?
- 2Gkashmiri 1y agono. shareholders are not usually the same legal person. a corporation is a distinct "legal person" because it goes through "incorporation" which breathes a legal life into a concept. a person does, a corporation has legally perpetual existence because the shareholders can endlessly transfer their shares to other persons and on death the shares are given as inheritance.
- PaulDavisThe1st 1y agoIn which case, when the company distributes profits to shareholders, that is a transfer between people, and is taxed like other similar transfers. There is no double taxation - the company (one legal person) is taxed on income/profit, the shareholders (different legal persons) are taxed on the money they receive from the company.
- 2Gkashmiri 1y agoyep