Funk Corporation conducts business in a foreign jurisdiction that imposes a 1 percent tax on gross receipts

Question:

Funk conducts business in a foreign jurisdiction that imposes a 1 percent tax on gross receipts from sales within the jurisdiction. This year, Funk paid $750,000 gross receipts tax to the jurisdiction.
Identify the tax issue or issues suggested by the above situations, and state each issue in the form of a question.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...