Role of the United States Constitution

The Roles of the United States Constitution and its Legal System in Business Regulation

The Constitution of the United States including its Legal System plays significant roles in the management and implementation of regulations for business establishments all over the country . The U .S . Constitution amasses all the laws , policies , and regulations , etc . wherein the U .S Legal System is organized and established

In business , the U .S Constitution serves as the basis for all business regulations that are instigated and implemented in the nation . The U .S Legal System , on

the other hand , is in command of the processes and institutions or agencies that put the U .S . Constitution into action . It protects the people from all illegalities and unlawfulness . The rules policies , and regulations that are executed in the land are written in black and white on the U .S . Constitution and are put to practice by the U .S Legal System (US INFO , 2008

To fully understand the congruence of the relationship between the U .S Constitution and the U .S Legal System , it is relevant to cite an example . Laws and regulations embodied in the U .S . Constitution that applies to business include several laws about taxation . The main objective of taxation is to charge a certain amount , also regulated by the U .S . Constitution , from business establishments by the state and federal governments to be able to raise funds for the purpose of public interest (Worldwide Legal Directories , 2008 . This is where the U .S Constitution takes action because it is the basis of all laws regarding the process of taxation , the coverage and limitations of taxation , and the amount of taxes that will be charged for each business establishment , etc

The U .S . Treasury Office and the Internal Revenue Service or the IRS takes part in the U .S . Legal System because these governmental departments deal with the procurement of taxes . Basically , the IRS is in charge of establishing and concluding , evaluating , and accumulating profits and revenues obtained from taxes charged locally and internationally . In the business setting , corporate income taxes are charged for business establishments . The rule of thumb , in simpler terms , when it comes to corporate income taxes is that business establishments and companies should be able to declare an accurate financial statement of assets and liabilities , etc . for the IRS to be able to identify the part of their income that is subject to taxation (U .S . Treasury , 2008

The IRS ascertains that each business establishment declares their financial statements properly and accurately and that they disburse taxes that are due to them depending on their financial statements . In this scenario , the U .S . Legal System takes action , through the authority vested on the U .S . Treasury and the IRS , by determining which business establishment or corporation fail to adhere to rules of corporate income taxation . If this happens , sanctions will be implemented through further scrutiny by the U .S . judicial department (U .S . Treasury , 2008

To delve into the issue...