Question
L Inc., a Canadian-controlled private corporation, has a June 30 taxation year-end. L filed its income tax return for 2020 on March 31, 2021 at
L Inc., a Canadian-controlled private corporation, has a June 30 taxation year-end. L filed its income tax return for 2020 on March 31, 2021 at which time it paid the balance of tax owing of $100,000. What is the late-filing penalty for L Inc.?
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
4th edition
78025524, 978-0078025525
