Differences Between Corporations And Individuals Personal, consumption-type expenditures and exemptions apply solely to individuals Computation of AG applies only to individuals Corporation is not permitted to use standard deduction or deduct personal and dependency exemptions Corporations receive a dividends-received deduction Corporate charitable deductions limited to 10% taxable income Compensation deduction limitation for Publicl Held CorporationsDifferences Between Corporations And Individuals • Personal, consumption-type expenditures and exemptions apply solely to individuals • Computation of AGI applies only to individuals • Corporation is not permitted to use standard deduction or deduct personal and dependency exemptions • Corporations receive a dividends-received deduction • Corporate charitable deductions limited to 10% taxable income • Compensation deduction limitation for Publicly Held Corporations