PC3-51

Hi,

Please help with the attached file. If it makes it easier for you please feel free to put the information into a spreadsheet.

Thanks,

Katie

PC3-51 Additional Information: Gross profits on sales Short-term capital gain Long-term capital gain Dividends from 25%-owned domestic corporation NOL carryover from the preceding tax year Operating expenses CORPORATIONS If Taxable Income Is: OverBut Not Over$0 $50,000 50,000 75,000 75,000 100,000 100,000 335,000 335,000 10,000,000 10,000,000 15,000,000 15,000,000 18,333,333 18,333,333 Note: If taxable income is at least $ 335 comma 000 but less than $ 10 comma 000 comma 000 , the corporation pays a flat 34 % tax rate on all of its taxable income. $115,000 70,000 20,000 30,000 4,000 75,000 The Tax Is: Of the Amount Over15% $0 $7,500 + 25% 50,000 13,750 + 34% 75,000 22,250 + 39% 100,000 113,900 + 34% 335,000 3,400,000 + 35% 10,000,000 5,150,000 + 38% 15,000,000 6,416,667 + 35% 18,333,333 Gross Profit Add other Income Short term Long Term c Dividends 115,000 Less Operating Expen Total Taxable income (75,000) 160,000 Less Tax (45,650) Add net operating Los Income After Tax 4000 118,350 70,000 20,000 30,000 235,000