View our glossary of tax terms
Glossary Definition
Double taxation is whenever income tax is paid on the same income or revenue twice. It refers to when income tax is paid at the business entity level and the individual level on the same revenue in the US. This occurs most often with corporations that have shareholders. Double taxation occurs if the corporation pays taxes on its revenue each year and then pays dividends to its shareholders, who are also subject to income tax on those dividends.
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