Question: Lili Inc a domestic corporation operates a branch in France
Lili, Inc., a domestic corporation, operates a branch in France. The earnings record of the branch is as follows.
For 2012-2015, Lili, Inc., reports U.S.-source taxable income of $500,000 each year. What is the allowed FTC for 2015? Assume a 35% U.S. tax rate.
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