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Double Taxation
A phenomenon where income is taxed twice, typically once at the corporate level and again at the individual level when distributed as dividends.
Corporations
Legal entities that are separate from their owners, with the ability to own assets, incur liabilities, and sell stock.
Shareholders
Individuals or institutions that own one or more shares of stock in a public or private corporation, giving them partial ownership of the company.
Budget Deficit
The financial situation where a government's expenditures exceed its revenues in a given fiscal period, leading to borrowing or debt accumulation.
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