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 Corporations. Many refer to C corporations simply as corporations. A C corporation pays taxes under Chapter C of the IRS tax code, which is where the name comes from. That means the corporation itself is a legal entity that is liable for its own debts and pays its own taxes.