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In 2019. Alberta-based Corporation Growth has $92,000 in taxable income, and Alberta-based Corporation Income has $10,100,000 in taxable income. Use the tax rates from Table
In 2019. Alberta-based Corporation Growth has $92,000 in taxable income, and Alberta-based Corporation Income has $10,100,000 in taxable income. Use the tax rates from Table 27 a. What is the tax bill for each? (Omit $ sign in your response.) Tax B111 Firms Alberta-based Corporation Growth Alberta-based Corporation Income b. Suppose both firms have identified a new project that will increase taxable income by $23,000. How much additional taxes will each firm pay? (Omit S sign in your response.) Additional Taxes Firms Alberta-based Corporation Growth Alberta-based Corporation Income c. Is this amount the same? Yes NO TABLE 2.7 Substantively Enacted' Income Tax Rates for Income Earned by a CCPC2 for 2018 and Beyond-As at March 31, 2018 Small Business Income Active Business Income 2019 and Beyond 2019 and Beyond 2018 | 2018 Federal rates 38.0% 38.0% 38.0% 38.0% General corporate rate Federal abatement (100) (10.0) 28.0 (10,0) 28.0 (10,0) 28.0 28.0 (18.0) (19.0) 0.0 0.0 Small business deduction Rate reduction 0.0 0.0 (13.0) (13.0) 10.0 9.0 15.0 15.0 Provincial rates British Columbia 2.0% 2.0% 12.0% 12.0% Alberta 2.0 2.0 12.0 12.0 Saskatchewan? 2.0 2.0 12.0 12.0 M &P Incomell Investment Income 12 2018 2019 and Beyond 2019 and Beyond 2018 38.0% 38.0% 38.0% 38.0% General corporate rate Federal abatement (10,0) 28.0 (10.0) 28.0 (10,0) 28.0 (10,0) 28.0 (13.0) 0.0 0.0 M&P deduction 11 Refundable Tax (13.0) 0.0 0.0 10.7 10.7 15.0 38.7 39.7 Provincial rates British Columbia 12.0% 12.0% 12.0 12.0 12.0% 12.0 Alberta Saskatchewan? 10.0 12.0 12.0 12.0% 12.0 10.0 12.0 10.0 11.6/11.5 Manitoba 12.0 120 Ontario 10.0 12.0 11.5 117 11.5 Quebec 117 11.6/11.5
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