Corporate Tax Liability
/ˈkɔːrpərət tæks laɪəˈbɪləti/
Definitions
- (n.) The legal obligation of a corporation to pay taxes on its income or profits as imposed by tax laws.
The company's corporate tax liability increased significantly due to higher earnings this fiscal year.
Forms
- corporate tax liability
Related terms
See also
Commentary
This term specifically denotes the financial responsibility of a corporation for taxes, distinct from individual tax liabilities; clarity is important when drafting tax-related documents.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.