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Mr: and Mrs. Lewis have an alternative minimum tax base of $312,000 in 2022 . Their tentative minimum tax will be A. $83,238. B. $87,360.
Mr: and Mrs. Lewis have an alternative minimum tax base of $312,000 in 2022 . Their tentative minimum tax will be A. $83,238. B. $87,360. C. $50.414. D. $81,120. What is the purpose of the qualified business inoome deduction? Does it achiere itd goas? This question: 1 point(s) possible A. The purpose of the qualifed business incorne deduction was to allow wole propriotonhips and pass-through enteies with qualfied business income over $250,000 to be taxed at the top indviduar rate of 39% less 20% of qualfied business income. Thit eflectively reduce pose of the owolfied business inoome deducton was to decrease the diwerences in tax mades atid by corporations wheginning in 201 B Is decroased to a fat 21 t tax rate beginning in 2018. The top corporate tax rate is cumpenty 37%. paid by corporations when the tax rate for sole proprietorahips and poss-through entitie. to 20.6%.37\% (37%20%) which is higher than the 21% tax fale imposed on corporations. It is impcrt if a ful qualiled business income deduction is allowed would teduce the tax rate portant to consider, however that the income distributed from a corporation is also taxed
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