TSNM Co. reported book income of $41,839,000 for 2021. This number included $2,510,000 of income from exempt municipal bonds. For tax purposes, the company reported $9,036,000 of depreciation in excess of GAAP depreciation. The company also made tax payments of $6,276,000 during the year. If TSNM Co.'s 2021 tax rate was 25%.

What will they report as taxes payable on their 2021?

Answer rating: 100% (QA)

To determine the taxes payable for TSNM Co in 2021 we need to calculate th... View the full answer