Assume book income before tax is $420,000 and the corporate taxpayer has $30,000 of Municipal Interest, $2,000
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Assume book income before tax is $420,000 and the corporate taxpayer has $30,000 of Municipal Interest, $2,000 of the non-deductible meal and entertainment expenses, and a $5,000 non-deductible SEC penalty. The Statutory tax rate is 21%. Calculate the effective rate, show all calculations.
Related Book For
South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts
ISBN: 9781305399884
39th edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
Posted Date: