Final answer:
Double taxation refers to the taxation of both corporate profits and the dividends to shareholders, and it's guided by principles such as the benefit principle and the ability-to-pay principle. The U.S. tax system strives to be equitable, simple, and efficient, and is governed by constitutional clauses and the IRS.
Step-by-step explanation:
The requisites that constitute double taxation typically refer to a corporate business structure where both the profits of the corporation and the dividends paid to shareholders are subject to taxation. This concept is critical to understanding corporate taxation and its impact on both businesses and individuals. The Federal Tax System agrees that taxes should ideally be equitable, simple, and efficient to be well-received by the public. Moreover, the taxation system is often guided by two principles. The benefit principle of taxation suggests that those who get more benefits from the government's services should pay more taxes, whereas the ability-to-pay principle indicates that those who have a greater capacity to bear the weight of taxes should contribute a higher amount.
Within the context of constitutional law, the taxing power granted to the federal government also includes provisions like the necessary and proper clause and the supremacy clause, which can influence the tax system. Additionally, according to the U.S. Constitution, federal taxes must be uniform across the states, and certain types of taxes, such as export taxes, are prohibited. Tax collection is managed by the Internal Revenue Service (IRS), while the appropriation of revenues is conducted through Congress.