Question
Please also include how to configure tax payments along with taxable income based on this income corporate tax rate $0 - 50,000 15% 50,001-75,000 25%
Please also include how to configure tax payments along with taxable income |
based on this
income corporate tax rate
$0 - 50,000 15%
50,001-75,000 25%
75,001-10,000,000 34%
over $10,000,000 35%
additional surtax
:from $100,000 - $335,000 5%
from $15,000,000 - 18,333,333 3% surtax
Last year, your company had sales of $3.6 million, cost of goods sold of $2.3 million and operating expenses amounting to $840,000. The firm had $114,000 in depreciation expense. In addition, the firm paid 8% interest on $625,000 in bonds, received $30,000 in dividend income, and sold property for a $10,000 capital loss. What was the firm's tax payment?
$91,950 |
$110,390 |
$102,200 |
$103,700 |
$98,300 |
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