Budget Corporation is a personal service corporation. Its taxable income for the current year is $75,000. What

Question:

Budget Corporation is a personal service corporation. Its taxable income for the current year is $75,000. What is Budget’s income tax liability for the year?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...