If a corporation pays the premium on a group life policy for its employees, Â corporation is required to report contributory taxable income for each additional employee.
The number of suitable employees eligible for the following are the 75 percent of the total employees to avoid adverse conditions in the organisation.
Group life policy can include proffesionals, employees or the organisation or a corporation which came all under single contract and premium.
Taxable income of the company includes income on which the tax is levied particularly on the profit of the corporation or the individuals.
To learn more about taxable income here,
https://brainly.com/question/17961582
#SPJ1
