Question

Use Exhibit 16.1 to compute Balboa Corporation’s State F taxable income for the year.
Addition modifications .......... $29,000
Allocated income (total) .......... $25,000
Allocated income (State F) ......... $3,000
Allocated income (State G) ........ $22,000
Apportionment percentage ......... 40%
Credits ................. $800
Federal taxable income .......... $90,000
Subtraction modifications .......... $15,000
Tax rate ................ 5%


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  • CreatedSeptember 09, 2015
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