Multiple Choice
Which of the following statements is incorrect regarding the taxation of C corporations?
A) Similar to those applicable to individuals, the marginal tax rate brackets for corporations are adjusted for inflation.
B) Taxable income of a personal service corporation is taxed at a flat rate of 35%.
C) A tax return must be filed whether or not the corporation has taxable income.
D) The highest corporate marginal tax rate is 39%.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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