A corporation was incorporated in Canada, and carries on business directly both in Canada and in the US What income would be taxable in Canada? Multiple Choice The income earned in Canada, and the US income less the US taxes payable, would be taxable in Canada. All the income earned anywhere in the world would be taxable in Canada. The income earned in Canada and the gross US income, before expenses, would be taxable in Canada. Only the income earned in Canada would be taxable in Canada.