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2 . Jill Corp is subject to tax in only one State. During the year, it generated the following: Depreciation for Federal tax ( 2

2. Jill Corp is subject to tax in only one State. During the year, it generated the following:
Depreciation for Federal tax (250k allowed for State) $200,000
State income tax expense 60,000
Refund of State income tax 22,000
Federal taxable income is $1,200,000. What is the corporations State taxable income?

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