Surcharge cap on firm tax limits additional levy above the income threshold, preserving tax on threshold plus excess. The income-tax rate for firms remains unchanged from the prior year; firms with total income above the threshold face a surcharge on computed income-tax, ... Summary
Surcharge cap on firm tax limits additional levy above the income threshold, preserving tax on threshold plus excess.
The income-tax rate for firms remains unchanged from the prior year; firms with total income above the threshold face a surcharge on computed income-tax, but the combined tax and surcharge for income exceeding the threshold is capped so it cannot exceed the tax on income at the threshold plus the excess income.
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TaxTMI 
TaxTMI 
