Mama Corporation (a U.S. taxpayer) has a wholly owned sales subsidiary in the Bahamas (Bahamamama Ltd.) that
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a. Determine the amount of income taxable in the United States assuming that Bahamamama makes 20 percent of its sales in the Bahamas and 80 percent in other countries.
b. Determine the amount of income taxable in the United States assuming that Bahamamama makes 40 percent of its sales in the Bahamas and 60 percent in other countries.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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