âThe English and French gentry used patch boxes in which to keep beauty patches as well as patches to cover pox scars.â 2 A part of something marked out from the rest by a particular characteristic.
A corporate tax, also called corporation tax or company tax, is a tax on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax.
C Corporation â A C Corporation is an entity that, in contrast to an S Corporation or an LLC taxed as a partnership, is subject to federal income tax and pays federal income taxes on its income.f you are an owner of an entity taxed as a partnership: 1  you will receive Forms K-1 from the entity, and. 2  you will be taxed on the entityâs income even if no cash is distributed to you to pay the taxes.