Question

In each of the following independent situations, determine the corporation’s income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2014.
Taxable Income
Purple Corporation............ $ 65,000
Azul Corporation.............. 290,000
Pink Corporation.............. 12,350,000
Turquoise Corporation............ 19,000,000
Teal Corporation (a personal service corporation) 130,000


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  • CreatedMay 25, 2015
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