Final answer:
The statement is false; corporations cannot use preferential tax rates for long-term capital gains, unlike individuals, but they do have limitations on the deductibility of capital losses. They are also responsible for paying a variety of other taxes, reflecting the complex tax obligations that come with corporate structure and benefits.
Step-by-step explanation:
corporate structure and benefits:
The statement is false. Corporations are not permitted to use preferential tax rates for long-term capital gains like individuals. However, they are subject to limitations on the deductibility of capital losses. This means that while corporations benefit from certain aspects of the tax code, such as the ability to raise capital and limited liability to shareholders, they also face a stringent tax regime on their profits, with no preferential rates for long-term capital gains and restrictions on how they can deduct capital losses.
Furthermore, corporations pay income taxes on the profits they earn, which can be quite significant given the size of some corporations. They are also liable to pay other types of taxes, such as property tax, payroll tax, excise tax, customs tax, and value-added tax. While corporations have certain advantages like limited liability and the ability to raise capital through the sale of stocks and bonds, they also bear the burden of complying with various tax laws and regulations.