QUESTION IMAGE
Question
corporate taxes are a type of
income tax.
property tax
sales tax.
excise tax.
Brief Explanations
Corporate taxes are levied on the income (profits) of corporations. Income tax is a tax on income, which aligns with corporate taxes as they tax the earnings of businesses. Property tax is on property, sales tax on sales transactions, and excise tax on specific goods/services, so corporate taxes fit as income tax.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
A. income tax