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A us corporation is subject to an income tax rate of 35% and has a branch in the UK which paid the national corporate tax
A us corporation is subject to an income tax rate of 35% and has a branch in the UK which paid the national corporate tax rate of 30% on its earnings there. The branch generated taxable income from its operations in UK equivalent to $5,000,000. What is the amount of taxes owed to the us government on the income generated in the UK
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Economics Private And Public Choice
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
17th Edition
0357133994, 9780357133996
