Workman Tools reported a TI of $90,000 last year. If the state income tax rate is 7%,
Question:
Workman Tools reported a TI of $90,000 last year. If the state income tax rate is 7%, determine the
(a) Average federal tax rate,
(b) Overall effective tax rate,
(c) Total taxes to be paid based on the effective tax rate,
(d) Total taxes paid to the state and paid to the federal government.
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a Federal taxes 13750 03415000 18850 using Table US Corporate Inc...View the full answer
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