Question
Assume that a corporation's pretax net income is taxable (Federal + State) based on 21% of the first $300,000, 26% of the next $400,000, and
Assume that a corporation's pretax net income is taxable (Federal + State) based on 21% of the first $300,000, 26% of the next $400,000, and 31% of anything beyond that.
If the corporation generated $800,000 of taxable net income, what is the corporation's marginal tax rate?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
