Question

Please explain how income taxes are different to other business

taxes. Provide examples of applications.
PLEASE PROVIDE A DIFFERENT ANSWER FROM THE ONES ALREADY
POSTED.

Answer 1

Corporate tax is an expense of a business (cash outflow) levied by the government that represents a country's main source of income, whereas personal income tax is a type of tax governmentally imposed on an individual's income, such as wages and salaries