Definition of caveat emptor. : a principle in commerce: without a warranty the buyer takes the risk Caveat emptor is a reasonable approach for many consumer products.
The United States imposes a tax on the profits of US resident corporations up to a maximum rate of 35 percent. The corporate income tax is the third largest source of federal revenue, after the individual income tax and payroll taxes, and raised $343.8 billion in fiscal 2015. The United States taxes the profits of US resident corporations at graduated rates ranging from 15 to 35 percent.
Every year your California Corporation must file an Annual Franchise Tax Return with the Franchise Tax Board. Tax: Both C and S Corporations are subject to franchise taxes. The franchise tax is actually a tax of net income and the rate is 8.84% of net income for corporations. S corporations must pay the franchise tax at a rate of 1.5% of net income. California imposes a minimum franchise tax of $800. NOTE: New corporations are subject to the above tax rate with no minimum tax the first year.