Final answer:
Corporations pay income taxes which account for much less federal revenue than individual income taxes, making up about nine percent of federal revenue in 2010 compared to 82 percent from individual income taxes and payroll taxes.
Step-by-step explanation:
When it comes to taxation, corporations are subject to various types, including income taxes, property taxes, payroll taxes, excise taxes, and others. Of these, the corporate income tax is a significant source of federal revenue. Based on the information provided, corporations today pay income taxes which account for much less federal revenue than individual income taxes. This is evidenced by tax revenue data that shows individual income taxes and payroll taxes combined accounted for 82 percent of all federal revenues in fiscal year 2010, with corporate income taxes contributing another nine percent. Over time, the share of federal revenue coming from corporate income taxes has declined, making it the third-largest source of federal tax revenue but still significantly smaller than the revenue generated from individual income taxes.