The taxable income for Robin Corporation for 2019 is $30,000.
Explanation:
Taxable income is the income amount that is taken into account while calculating the tax for an individual in the given year.
Tax is the amount that an individual owes to government. Tax is the compulsory charge imposed on the citizen of a country to contribute for the state.
The person will be punished for the failure of tax payment. There are three types of taxes. They are as follows:
i) The proportional tax
ii) The progressive tax
iii) The regressive tax
