Examlex
Reform in the Democratic Party included the institution of a system of proportionality.
Taxable Income
The portion of income that is subject to taxation after all allowances, deductions, and exemptions are considered.
Book Income
The income reported by a corporation for financial reporting purposes, which may differ from taxable income.
Federal Income Tax
A tax levied by the U.S. government on the annual earnings of individuals, corporations, trusts, and other legal entities.
Earnings and Profits
A measure of a corporation's ability to pay dividends to its shareholders, calculated for tax purposes.
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