Determine who pays individual income taxes, corporate income taxes, and payroll taxes.(1 point)

Question

Responses

Companies pay individual income and payroll taxes, and employees pay payroll taxes. Those who are self-employed must pay payroll taxes.
Companies pay individual income and payroll taxes, and employees pay payroll taxes. Those who are self-employed must pay payroll taxes.

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.
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.

Companies pay corporate income taxes and employees pay individual income taxes. Those who are self-employed must pay individual income and payroll taxes.
Companies pay corporate income taxes and employees pay individual income taxes. Those who are self-employed must pay individual income and payroll taxes.

Companies pay individual income, corporate income and payroll taxes, and employees pay individual income and payroll taxes. Those who are self-employed only have to pay individual income taxes.

Answer 1

The correct response is:

Companies pay corporate income taxes and employees pay individual income taxes. Those who are self-employed must pay individual income and payroll taxes.

This accurately reflects the tax responsibilities: corporations pay corporate income taxes, employees are responsible for individual income taxes withheld from their pay, and self-employed individuals must pay both individual income taxes and payroll taxes (self-employment taxes).