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Maple Corporation operates in the state of Massachusetts only. During the year Maple produced federal taxable income of $2,000,000, assuming the following items were also
Maple Corporation operates in the state of Massachusetts only. During the year Maple produced federal taxable income of $2,000,000, assuming the following items were also included, what would Maples Massachusetts taxable income be for the year?
Depreciation for federal tax purposes (Massachusetts allows $250,000) $200,000
Massachusetts income tax expense $ 60,000
Refund of State income tax $ 22,000
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