Question
Calculate Anaheim Corporations excess net passive income tax: b. Passive investment income, $100,000; expenses associated with passive investment income, $70,000; gross receipts, $120,000; taxable income
Calculate Anaheim Corporations excess net passive income tax:
b. Passive investment income, $100,000; expenses associated with passive investment income, $70,000; gross receipts, $120,000; taxable income if a C corporation, $1,200; corporate E&P, $30,000.
So just an FYI...the answer is not $420 or $21,000 per the check my answer help
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Horngrens Financial & Managerial Accounting
Authors: Tracie Miller Nobles, Brenda Mattison
7th Edition
0136516254, 9780136516255
