The corporate income tax is

Question

Quizplus · Accepted Answer

The corporate income tax is a tax on the profits or net income of corporations, not on their revenue.
 
Answer: B
 While the corporate income tax is a significant source of federal revenue, it is not the single largest source. The largest source of federal revenue is typically the individual income tax.

Answer: C
 The payroll tax is separate from the corporate income tax and is paid by both employers and employees to fund social security and other government programs.

Answer: D
 The proportion of federal tax revenue coming from the corporate income tax has actually decreased since 1950, as other taxes such as the individual income tax and payroll tax have grown in importance.

The Corporate Income Tax Is