Taxation of business entities is the process of collecting taxes from businesses and other entities, such as trusts or partnerships. It includes assessing and collecting applicable taxes on any income derived by the business, as well as tracking potential deductions and other liabilities. This process can be complex, but it’s necessary to remain compliant with tax laws. Ultimately, taxation of business entities helps support governments in providing vital services like infrastructure, roads, schools and healthcare. By properly understanding and managing your tax obligations today, you’ll ensure a bright future for your business tomorrow.