The corporate income tax:

Question

Quizplus · Accepted Answer

The largest revenue source for the federal government is individual income taxes, not corporate income taxes. The corporate income tax did not expire during the Obama administration; it has been adjusted but remains in effect. The statutory incidence (who is legally responsible for paying the tax) and the economic incidence (who actually bears the economic burden of the tax) of the corporate income tax do not always coincide, as the tax burden can be passed on to consumers, employees, or shareholders in various proportions.

The Corporate Income Tax