The federal tax rates for corporate income are 10% and 15% for small and active businesses, respectively.
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The federal tax rates for corporate income are 10% and 15% for small and active businesses, respectively. The provincial tax rates (Ontario) for corporate income are 3.5% and 11.5% for small and active businesses, respectively. The income limit for small businesses for tax deduction is $500,000. How much is their income tax?
a). $72,900
b). $78,100
c). $95,300
d). $143,700
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
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