Question

Fill in the blank

Timothy runs a public transportation service in his town. He has learned from his accountant that his organization is a liable to a special kind of tax. Which tax would Timothy have to pay from his organization?
Timothy would have to pay the _______ tax for his transportation service.

Answer 1

Timothy would have to pay the corporate income tax for his transportation service.

Step-by-step explanation:

Timothy would have to pay the corporate income tax for his transportation service. Corporate income tax is a tax levied on the profits made by a corporation. Since Timothy runs a public transportation service as part of his organization, he would be subject to this tax.