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.
Business Structure and Taxes. For federal tax purposes, corporations come in two basic flavors: S and C. An S corporation passes its net income on to shareholders, who report that income on their individual tax returns. A C corporation pays taxes on the net income reported by the business. The federal corporate tax rates as of 2012 ranged from 15 percent on net income up to $50,000 to 38 percent on net of $15 million and above. Once a corporation reaches $18,333,333 in net income, the tax rate falls back to 35 percent.