Final answer:
Corporate taxes are a type of income tax imposed on the profits earned by corporations.
Step-by-step explanation:
Corporate taxes are a type of income tax that are imposed on the profits earned by corporations. Unlike personal income tax which is paid by individuals, corporate income tax is paid by companies based on their net profits. It is considered the third largest category of taxes that the federal government collects.
In addition to corporate income tax, corporations may also be subject to other taxes such as property tax, payroll tax, excise tax, customs tax, and value-added tax.
Therefore, the correct answer to the question is: income tax.