Corporate taxes is the branch of tax law that relate to the taxation of corporations.
Income taxes usually are taxes on the activities of the corporation which generate profit. Very generally, allowable expenses (such as the cost of salaries) and other permitted deductions (such as a measure of the depreciation of capital assets) are subtracted from the revenues (such as sales) in arriving at the amount that is subject to taxation. The state would then take a portion of that amount.
It will depend on the circumstances if any amounts (such as dividends) that are distributed to the owners are deducted for the purposes of determining the corporations taxes. Some entities such as trusts or a special corperation, such as an "S" corporation in the United States, permit the flow-through of the corporation's income to the owner. This income is then taxed in the hands of the owner but not in the hands of the corporation. If there is no flow through of this income, this income is generally taxed twice, once in the hands of the corporation and secondly when this income is received by the owner, for example, as personal income tax on dividends when received by an individual.
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