Question 17 (4 points)

For corporate taxpayers, the allowable deduction for charitable contributions may not exceed:

Question 17 options:

	5% of the corporation's taxable income.
	10% of the corporation's taxable income.
	15% of the corporation's taxable income.
	30% of the corporation's taxable income.
	50% of the corporation's taxable income.

Question 18 (4 points)

A corporation's net capital gain is taxed at a 25% maximum rate.

Question 18 options:

	True
	False

Question 19 (4 points)

Where on the corporate tax return would you find a reconciliation of net income per books to taxable income before net operating loss and dividends received deduction (DRD)?

Question 19 options:

	Schedule J
	Schedule L
	Schedule M-1
	Schedule M-2
	This reconciliation is not shown on the corporate tax return

Question 20 (4 points)

The extended due date for a calendar year C corporation is September 15.

Question 20 options:

	True
	False

Question 21 (4 points)

The due dates for estimated tax payments made by a corporation are the 15^th day of the:

Question 21 options:

	4th, 6th, 9th, and 12th months of the corporations tax year.
	3rd, 6th, 9th, and 12th months of the corporations tax year.
	4th, 6th and 9th months of the corporations tax year, plus the 1st month of the next tax year.
	3rd, 6th, 9th, and 12th months of the corporations tax year.
	none of the above.