单选题

Corporation Income Tax

Business corporations, like individuals, must pay taxes on their income In 1966 the corporation income tax provided 23 percent of all government receipts. By 1983 the figure had dropped to 6.2 percent, but by 1987 it climbed to 10.2 percent.
The corporation income tax is often criticized as double taxation(税收). Not only must the company pay taxes on its profits, but individual shareholders(股东) must also pay personal income taxes on dividend(红利) income. The small stockholder has been given some relief by the provision allowing taxpayers to deduct(扣除) the fist $100 they receive in dividends from their personal income. In addition, money that is gained from the increase in the value of stock sold at least six months after its purchase considered a capital gain. The law allows the seller of such stock to pay a lower tax tate on the capital gain. However, gains from stock owned for less than six months are taxed at the rate of regular income.
Many business people have complained—probably with some justification—that high corporate taxes interfere with their opportunities to reinvest their profits in their businesses. Such interference can hinder(妨碍) the growth and modernization of businesses. Some industrial nations that have expanded rapidly in the last 15 years have far lower taxes on corportations than the United States does. Many economists believe that low corporation taxes have been a help in this business expansion.
A corporation income tax is based on a corporation's annual income after it has paid its expenses. Dividends to stockholders are not included as expenses. Recent changes in the tax have reduced the rates in order to encourage business investment in research and new capital equipment. The new rates are more progressive, increasing from 15 percent on the first $25,000 of taxable income to 46 percent on all taxable income above $100,000. The incidence of the tax tends to fall on the stockholders in highly competitive business because shifting the tax to the consumer would raise prices and cut down on sales.

单选题 Double taxation, according to the second paragraph, includes ______.

A、 personal income taxes by shareholders and dividends paid by the company
B、 personal income taxes paid by the company on dividends and on its profits
C、 taxes paid on the profits of the company and those on personal income
D、 taxes paid on dividends by shareholders and those paid by the company on its profits

【正确答案】 D

【答案解析】double taxation按第二段第一句所说，指由公司付的企业所得税，以及由每个股东在公司分配了红利后所付的个人所得税。C是错误答案，因为回答不够全面。

单选题 Capital gain is from ______

A、 increased value of stock sold six months after it is bought
B、 increased value of stock sold less than six months after its purchase
C、 stock owned for less than six months
D、 stock purchased at a lower price

【正确答案】 A

【答案解析】答案在第二段的第五句：购进六个月后售出的股票增值所得款被认为是资本收入。该段的最后两句对capital gain这一概念做进一步说明。

单选题 According to the writer, why is the complaint of some businessmen of high corporate taxes can be justified? ______

A、 Developed countries have lower corporate taxes.
B、 Fast growing industrial nations have far lower corporate income taxes.
C、 High corporate income taxes prevent businesses from growing.
D、 Low corporate income taxes prevent businesses from growin

【正确答案】 C

【答案解析】作者认为，许多工商业者的抱怨不无正当理由，因为，过高的企业所得税妨碍了他们再投资的机会，进而阻止了公司的发展和现代化。A和B是错误选择，因为，虽然美国的企业所得税较高，但是它仍属发达国和工业国。

单选题 The new rates are more progressive in the sense that ______

A、 the tax is new and modern
B、 the rate of tax is higher on larger amount of money
C、 the tax is developing gradually
D、 the rate of tax is getting higher and higher

【正确答案】 B

【答案解析】progressive是一词多意，它有new and modern之意，也有developing gradually之意，但在本文中意为：累进的。

单选题 If the incidence of the tax is on the customer, ______

A、 prices will go down
B、 there will be stiff competition
C、 sales will be reduced
D、 the customer will be benefited

【正确答案】 C

【答案解析】文章的最后几句说，这种税往往落在极具竞争力的工商企业股东身上，因为如转向顾客征税，将使价格上浮，销售量下降。因此，只有C是正确答案。原文中cut down的意思是：削减。