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PLEASE answer all parts with new numbers from pic 1 X Problem 9-50 (algorithmic) Question Help Consider a corporation whose taxable income without state income
PLEASE answer all parts with new numbers from pic 1
X Problem 9-50 (algorithmic) Question Help Consider a corporation whose taxable income without state income tax is Gross revenue All expenses $3,300,000 $1,500,000 If the marginal federal tax rate is 35% and the marginal state rate is 5%, compute the combined state and federal taxes using the two methods. State taxable income is $ 1,800,000. (Round to the nearest dollar.) State income tax is $ 90,000. (Round to the nearest dollar.) Federal taxable income is $ 1,710,000. (Round to the nearest dollar.) Federal income tax is $ 598,500. (Round to the nearest dollar.) Combined state and federal tax is $ 688,500". (Round to the nearest dollar.) Combined tax rate is 38.25 %. (Round to two decimal places.) Combined state and federal tax using combined tax rate is $ 688,500. (Round to the nearest dollar.) X Problem 9-50 (algorithmic) Question Help Consider a corporation whose taxable income without state income tax is e Gross revenue All expenses $3,900,000 $1,600,000 If the marginal federal tax rate is 35% and the marginal state rate is 5%, compute the combined state and federal taxes using the two methods. State taxable income is $ (Round to the nearest dollar.)Step by Step Solution
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