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FEDERAL TAX QUESTION (15 MARKS) Taxable Income in 2020 $ 500,000 Permanent establishment in Ontario, Manitoba and the U.S Other Information is provided below Gross
FEDERAL TAX QUESTION (15 MARKS)
| Taxable Income in 2020 | $ 500,000 |
| Permanent establishment in | Ontario, Manitoba and the U.S |
| Other Information is provided below | |
| Gross Revenues | Salaries and salaries | |
| Ontario | $1,000,000 | $360,000 |
| Manitoba | 1,200,000 | 540,000 |
| U.S. | 800,000 | 480,000 |
| Total | $3,000,000 | $1,380,000 |
Calculate Allocated Taxable income according to the IRS provisions.
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