Z Ltd. paid Part I federal tax of $46,117 on taxable income of $430,000. Net income for
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Z Ltd. paid Part I federal tax of $46,117 on taxable income of $430,000. Net income for tax purposes consists of $405,000 of active business income and $25,000 of interest income from long-term investments. At the end of the previous year, Z had a Non-eligible RDTOH balance of $120,000. Z pays non-eligible dividends of $23,000 annually.
Determine Z’s Non-eligible RDTOH balance at the end of the current year.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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