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AutoParts Inc. is a CCPC located in Saint John, New Brunswick that distributes automotive parts in the Maritime Provinces. For the year ended December 31,
AutoParts Inc. is a CCPC located in Saint John, New Brunswick that distributes automotive parts in the Maritime Provinces. For the year ended December 31, 2022, their Division B income was $708,500, all of which are from active business income. AutoParts Inc. also has non-capital loss carryforwards of $58,500 from 2017. AutoParts Inc. is part of an associated group of corporations. $120,000 of the small business deduction limit has been allocated to other members of the associated group. No investment income has been earned by any members of the group. The taxable capital of the associated group is $22 million. Assume that the provincial corporate tax rate is 4% on income eligible for the small business deduction, and 12% for all other income. REQUIRED: Calculate the total tax payable, including provincial taxes, for AutoParts Inc. in the year 2022
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