Sun Co. is a Canadian controlled private corporation with active business income of $400,000 in Year 1. The company engages in several commercial activities. Capital gains recognized by the company in Year 1 totaled $50,000. Sun Co. will utilize a net capital loss carry-over of $30,000 on its Year 1 tax return. 

What is Sun Co.'s taxable income?

Answer rating: 100% (QA)

Answer Taxable income active business income capital gains net capital loss c... View the full answer