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.
An S corporation elects to take its profits, losses, deductions and credit and pass them through the shareholders before they are subject to federal taxation. An S Corporation is an incorporation type in which a company can avoid double taxation common to a C corporation. An S corporation is taxed on profits only through the tax returns of its shareholders.