Question: R. E. Forms Ltd., a CCPC, had taxable income of $75,000 from an active business in 2014. Calculate both federal and provincial tax payable if

R. E. Forms Ltd., a CCPC, had taxable income of $75,000 from an active business in 2014. Calculate both federal and provincial tax payable if it operates in Alberta (14%) as compared to operating in Ontario (16.5%).

Step by Step Solution

★★★★★

3.43 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

RE Forms Ltd Alberta Net income 75000 Taxes 14 10500 ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Foundations Financial Management Questions!

Nolan Inc. had taxable income of $400,000 in 2011. Its effective tax rate is 35 percent. Nolan pays its 2011 income taxes on April 15, 2012. Required: 1. Given this information, determine the...

Gus, who is married and files a joint return, owns a grocery store. In 2016, his gross sales were $276,000, and operating expenses were $320,000. Other items on his 2016 return were as follows:...

Maria is a single individual with taxable income of $75,000 in 2016. What marginal tax rate should she use to determine the tax savings from a $2,000 deductible expense?

R. E. Forms Ltd. had taxable income of $75,000 from an active business in 2009. Calculate its tax __ payable if it operates in Alberta as compared to operating in Ontario.

can you plz fill out the from plzz 5 Net Income X Capital Cost X Shareholder x Balance Shee X General Inde X Income State X T2 Corporati X * Homework | X + X C File...

can you please fill out the from 5 Net Income X Capital Cost X Shareholder x Balance Shee X General Inde X Income State X T2 Corporati X * Homework | X + X C File...

A1.2abc Wilems (APs) are avalable to instructors only. AP 13-1 (Integration Example) Assume the following with respect to an individual shareholder of a wholly owned CCPC: - The corporation's only...

Clear Data Payer's name - Nom du payeur I+I Canada Revenue Agence du revenu Agency du Canada T4A UNIVERSAL CONSTRUCTION Year 2019 Statement of Pension, Retirement, Annuity, Annee and Other Income...

Hi. Please assist with multiple choice questions 26 - 30 as well as question 1 (written calculation question). This is based in on the South African Tax System. VAT Rate is 15%, Company Tax Rate is...

This is a project for a tax class. The facts tab contains the 20 problems that need to be entered into the other tabs. Is this something you could help me with? I will tip nicely for good work. Elf...

What are porphyrins? What does it mean if they are present in crude oil

Using what you know about the conformational energetics of substituted cyclohexanes, predict which of the two decalin isomers is more stable. Explain your reasoning.

Have you ever invested in bonds ? If so , what type of bonds, and what was your experience? If not , then have you ever considered investing in bonds? Given the current economic conditions, would you...

Increased incidence of falls

Sales for Ross Pros Sports Equipment are expected to be 4,800 units for the coming month. The company likes to maintain 10 percent of unit sales for each month in ending inventory . Beginning...

Vitale Hair Spray had sales of 13,000 units in March. A 70 percent increase is expected in April. The company will maintain 30 percent of expected unit sales for April in ending inventory . Beginning...

Delsing Plumbing Company has beginning inventory of 16,500 units, will sell 55,000 units for the month, and desires to reduce ending inventory to 25 percent of beginning inventory. How many units...

A client has come to you inquiring about establishing a contingency fund for emergency purposes. She tells you that safety of principal is very important but so, too, is the possibility of a higher...

Maynard's Tools needs a computerized machine tool lathe which costs $95,866 and requires $12,608 in maintenance expense for each year of its 5-year life. After five years, this machine will be...

nstructions: In a new Word document, complete the following: Linux is an open source variation of the Unix OS and there are many versions of the OS freely distributed on the internet. Research 3...