Incorporation is always the best business organization for tax purposes at the federal level.   Federal tax reform has removed some of the tax benefits of incorporation.   Federal tax reform has changed the taxation of businesses, making all types of businesses have similar tax rules.   Shareholders still benefit from delayed taxation because of incorporation.   Tax reform has changed the tax benefits of incorporation.

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A: Corporation earns profits, it is required to pay corporate income taxes on those earnings.…

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Q: corporations

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A: The answer is stated below:

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A: Tax is the amount paid by the individuals or entities from the income earned.

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