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The Ohio Corporation had a 20X taxable income of $50,000,000 from operations after all operating costs but before 1. interest charges of $500,000, 2. dividends
The Ohio Corporation had a 20X taxable income of $50,000,000 from operations after all operating costs but before 1. interest charges of $500,000, 2. dividends received of $45,000, 3. dividends paid of $10,000,000, and 4. income taxes. Using the tax schedule in Table 2.3 , what is Ohio's income tax liability? What are Ohio's average and marginal tax rates on tax Multiple Choice $17,329,725,34.66%,35%, respectively $13,829,725,27.66%,35%, respectively $17,340,750,34.68%,35%, respectively $6,416,667,12.83%,35%, respectively
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