Corporate taxes are paid by establishments based on their profits, or net income. Corporate taxes have been a subject of debate for many years; economists claim that only "people" are the entities that should be liable for taxes, and not corporations. On the other hand, the government insists that corporations have the ability to pay taxes (independently), so they should.
Aside from the income taxes, employers routinely withhold payroll taxes from wages and salaries. The collections are used mainly for insurance programs for the elderly, poor, disabled, and unemployed people.
CONSUMPTION (SALES) TAX
Consumption tax is imposed on sales of goods or services. It falls into four general categories; general sales taxes, excise taxes, value-added taxes, and tariffs.
Property tax is a tax paid based on an individual's wealth, whether it be financial or real. Financial assets cover for stocks and bonds, while real assets scope real estates, cars, and artworks.