30,000 68,000 72,000 34,000 Data for 2020 taxable year of ML partnership (Domestic corporation) including partner's own

  30,000

 68,000

 72,000

 34,000

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Data for 2020 taxable year of ML partnership (Domestic corporation) including partner's own income (Resident citizens) are as follows: Description Compensation income Business income 800,000 Allowable deductions ML partnership 200,000 Interest income from deposit in a 100,000 bank (Philippines) Martis (40% P/L ratio) 300,000 450,000 100,000 10,000 Layla (60% P/L ratio) 270,000 Assume the partnership is a General partnership, compute for the total tax due (basic tax and final tax) by Layla. Data for 2020 taxable year of ML partnership (Domestic corporation) including partner's own income (Resident citizens) are as follows: Description Compensation income Business income 800,000 Allowable deductions ML partnership 200,000 Interest income from deposit in a 100,000 bank (Philippines) Martis (40% P/L ratio) 300,000 450,000 100,000 10,000 Layla (60% P/L ratio) 270,000 Assume the partnership is a General partnership, compute for the total tax due (basic tax and final tax) by Layla.

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Total income 1370000 Allowable deductions 300000 Taxable Income 1070000 Ta... View the full answer