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Sagot :
Individual income taxes are paid by individuals, corporate income taxes are paid by businesses or corporates and payroll taxes are paid jointly by workers and employers.
What do you mean by tax?
A tax is the major form of revenue for the government. Individual, payroll, and corporate income taxes are the types of revenue received by the federal government.
Individual income taxes are paid by the individuals that equal 46% of the tax revenues.
Payroll taxes are majorly paid by the employers and workers which equals 34% of tax revenues.
Corporate income taxes are paid by the businesses and are equal to 11% of tax revenues.
Learn more about tax here:
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Answer:
Companies pay corporate income and payroll taxes, and employees pay individual income and payroll taxes. Those who are self-employed may have to pay individual income, corporate income, and payroll taxes.
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