United states of america taxation

XYZ was incorporated on May 1" 2013. On the same date, XYZ incurred $23,900 in legal costs to start the business, The income statement for XYZ Corporation (for the following year, 2014) shows the following amounts: Sales COGS Dividends income .................. Charitable contribution (carried forward from 2013).... Charitable contribution (made in 2014)............ 2,000,000 3,000,000 5,000,000 200,000 ..1,800,000 .............1,800,000 Assume XYZ owns 18% of its only subsidiary. Assume further that XYZ aims to pay the least amount of tax each year Calculate income tax expense for XYZ Corporation for the year ending December 31, 2014. 2009000 Sales 20 Amateur de Scles Dividends Income ooo, 000 XYZ was incorporated on May 1" 2013. On the same date, XYZ incurred $23,900 in legal costs to start the business, The income statement for XYZ Corporation (for the following year, 2014) shows the following amounts: Sales COGS Dividends income .................. Charitable contribution (carried forward from 2013).... Charitable contribution (made in 2014)............ 2,000,000 3,000,000 5,000,000 200,000 ..1,800,000 .............1,800,000 Assume XYZ owns 18% of its only subsidiary. Assume further that XYZ aims to pay the least amount of tax each year Calculate income tax expense for XYZ Corporation for the year ending December 31, 2014. 2009000 Sales 20 Amateur de Scles Dividends Income ooo, 000