Corporate income tax is based on the amount of Retained Earnings that a company has.

Name: Corporate income tax is based on the amount of Retained Earnings that a company has.
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Quizplus · Accepted Answer

Corporate income tax is based on the company's taxable income, not its retained earnings. Taxable income is calculated from gross income minus allowable deductions, not from the amount of profits retained in the company after dividends are paid.

Corporate Income Tax Is Based on the Amount of Retained