OnePercenter
Gold Member
- Apr 10, 2013
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If you buy $10,000 worth of goods and sell them for $11,000, you have income of $11,000 with a $10,000 deduction. You'd pay $150.00 in federal tax on $11,000.
The government doesn't charge income tax on revenue. Sorry.
In 2015, the largest corporation I own made $128M in revenue and paid $2.8M in federal tax.
What was the income number?
The government doesn't charge income tax on revenue. Sorry.
I never stated they did. I stated what was paid.
What was the income number?
It doesn't matter, it's what you actually pay.