Question
Rockford Practice Set 16 edition - Periodic - Alternative Set of Instructions Step 6. Complete the work sheet. In completing the worksheet, compute State of
Rockford Practice Set 16 edition - Periodic - Alternative Set of Instructions
Step 6. Complete the work sheet. In completing the worksheet, compute State of Illinois corporate rate income taxes at 4% of pretax income. The state income tax is deductible on the federal tax return, and the federal tax is NOT deductible on the Illinois return. Assume rederal corporate tax on income subject to federal tax is as follows:
first $50,000 @15%
next $25,000 @25%
remainder @34%
Income between $100,000 and $335m0000 is assessed at 5% federal surtax, not to exceed $11,750.
**** if there is not enough information please comment and I will add more information from project if I know what numbers are needed**
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