Which of the following is a similarity between state corporate income taxes and state property taxes? A. both taxes B. both taxes are paid annually C. both taxes are collected quarterly by a taxation officer D. both taxes are paid to local governments first and then to state governments

The correct answer is B.

Both State Corporate Income Tax and State Property Tax are paid annually.

A corporate tax, also called company tax, is a direct tax imposed by a jurisdiction on the income or capital of a company. This tax is imposed on the net profit that the company makes in a year. Many local, state or national companies may have the same rate of corporate tax to pay.

A property tax, also known as millage rate, is a tax imposed on a real estate or personal property. Its rate is based on the value of the individual property and it's to be paid by its owner.