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Johnnies Inc. has taxable income of $300,000. Using Table what is Johnnies Inc. corporate tax rate? TABLE 3-7 Corporate Tax Rates 15% 25% $0-$50,000 $50,001-$75,000

Johnnies Inc. has taxable income of $300,000. Using Table what is Johnnies Inc. corporate tax rate?image text in transcribed

TABLE 3-7 Corporate Tax Rates 15% 25% $0-$50,000 $50,001-$75,000 $75,001-$10,000,000 over $10,000,000 34% 35% Additional surtax: 5% on income between $100,000 and $335,000 3% on income between $15,000,000 and $18,333,333

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