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Should businesses pay a lot for taxes

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Should Businesses Pay a Lot for Taxes?
All businesses are required to different kinds of taxes categorized in federal, state and local varieties. The type of tax paid by a company is dependent on their activities such as property ownership, use of equipment, profit, having employees and being self-employed. When an individual is starting a business, they should carry out research to determine the expected taxes. Corporations have been rumored to escape paying of taxes through providing wrong data. For this reason, there are questions about whether businesses should pay higher taxes than the current taxes they pay today. There are small businesses that pay more taxes than big corporations do. This is because huge corporations find ways to evade taxation.
With that in mind, I believe that businesses should not pay a lot of taxes. These corporations help in creating employment opportunities as well as contribute to the economy. The government should ensure that companies pay the required tax amounts without fail. Taxation in corporations should be dependent on their profits (Rao, 2018). High taxation of businesses without any benefit negatively affects the revenue and net income of the market. This way, the company cannot sustain employees, hence changing the economy through a rise in unemployment. Companies have other types of taxes required to be paid. The government should monitor such activities and ensure that businesses pay all their taxes. Another reason why corporations should not pay higher taxes is that every penny counts in business. Smart taxation allows the company to plan its finances while planning on future investments. Additionally, being taxed the right ways enable the company to track the spending of business hence understand the priorities of a company.

References
Rao, D. (2018). 7 Easy Tax-Saving Tips For Small Business Owners. Forbes. Retrieved https://www.forbes.com/sites/davidrae/2018/03/19/tax-saving-small-business-owner/#e9dd68355e89

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Should businesses pay a lot for taxes was first posted on August 13, 2019 at 8:33 am.
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