2. Using the tables below calculate the taxes paid from a sand and gravel operation in the following circumstances. a. (10 pts) Nebraska with a BTCF in 2017 of $12.6 million assuming the state taxes are deductible from the federal taxable income. b. (10 pts) How much would the mine save if it were located in Nevada instead? Corporate Tax Rate Schedule (2005 through 2017) If taxable income (line 30, Form 1120) on page 1 is: Over But not over Tax is Of amount over $0 $50,000 15% $0 50,000 75,000 $7,500 + 25% 50,000 75,000 100,000 13,750 + 34% 75,000 100,000 335,000 22,250 + 39% 100,000 335,000 10,000,000 113,900 + 34% 335,000 10,000,000 15,000,000 3,400,000 + 35% 10,000,000 15,000,000 18,333,333 5,150,000 + 38% 15,000,000 18,333,333 35% 0 . 4.00% > $0 5.00% $50,000 6.00% > $100,000 La. 4.00% $0 5.00% $25,000 6.00% > $50,000 $100,000 7.00% > 8.00% V $200,000 Maine 3.50% $0 7.93% > $25,000 8.33% > $75,000 8.93% > $250,000 Md. 8.25% > $0 Mass. 8.00% > $0 Mich. 6.00% > $0 Minn. 9.80% > $0 Miss. 0.00% > $0 3.00% $1,000 4.00% > $5,000 5.00% > $10,000 Mo. 6.25% > $0 Mont. 6.75% > $0 Nebr. 5.58% > $0 7.81% > $100,000 Nev. (c) 2. Using the tables below calculate the taxes paid from a sand and gravel operation in the following circumstances. a. (10 pts) Nebraska with a BTCF in 2017 of $12.6 million assuming the state taxes are deductible from the federal taxable income. b. (10 pts) How much would the mine save if it were located in Nevada instead? Corporate Tax Rate Schedule (2005 through 2017) If taxable income (line 30, Form 1120) on page 1 is: Over But not over Tax is Of amount over $0 $50,000 15% $0 50,000 75,000 $7,500 + 25% 50,000 75,000 100,000 13,750 + 34% 75,000 100,000 335,000 22,250 + 39% 100,000 335,000 10,000,000 113,900 + 34% 335,000 10,000,000 15,000,000 3,400,000 + 35% 10,000,000 15,000,000 18,333,333 5,150,000 + 38% 15,000,000 18,333,333 35% 0 . 4.00% > $0 5.00% $50,000 6.00% > $100,000 La. 4.00% $0 5.00% $25,000 6.00% > $50,000 $100,000 7.00% > 8.00% V $200,000 Maine 3.50% $0 7.93% > $25,000 8.33% > $75,000 8.93% > $250,000 Md. 8.25% > $0 Mass. 8.00% > $0 Mich. 6.00% > $0 Minn. 9.80% > $0 Miss. 0.00% > $0 3.00% $1,000 4.00% > $5,000 5.00% > $10,000 Mo. 6.25% > $0 Mont. 6.75% > $0 Nebr. 5.58% > $0 7.81% > $100,000 Nev. (c)