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Corporate tax in the United States

However, shareholders of S Corporations and mutual funds are taxed currently on corporate income, and do not pay tax on dividends.

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Some types of corporations (S corporations, mutual funds, etc.) are not taxed at the corporate level, and their shareholders are taxed on the corporation's income as it is recognized.

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Most states tax domestic and foreign corporations on taxable income derived from business activities apportioned to the state on a formulary basis.

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S Corporations, all of whose shareholders must be U.S. citizens or resident individuals; other restrictions apply.

see also