Corporate Taxes

Affiliated Group
For purposes of consolidated tax returns, an affiliated group is composed of companies whose common parent or other inclusive corporation owns at least 80% of the voting power and value of the stock of the includable corporations (except preferred stock).
Income Tax Schedules
Income tax schedules refer to detailed tables that list the tax rates or tax brackets applicable to various ranges of income levels. These schedules are used to determine the amount of tax payable by individuals and corporations.

Accounting Terms Lexicon

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