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Usses incurred in 2018 can be carried forward to 2020? 4) Sunny Side Corporation has gross revenue of $52,000,000 for 2021. Their taxable income before
Usses incurred in 2018 can be carried forward to 2020? 4) Sunny Side Corporation has gross revenue of $52,000,000 for 2021. Their taxable income before interest expense was $11,000,000. Taxable income included depreciation expense of $18,000,000, interest income of $10,000,000 and interest expense of $22,000,000. a) What is Sunny Side Corporation's adjusted taxable income? b) What amount of interest expense is deductible? c) What amount of interest expense can be carried forward to 2022? d) If all facts are the same, but Sunny Side Corporation has gross revenue $19,000,000, what amount of interest expense is deductible? 5) The highest marginal income tax rate (for individuals) on long-term capital gains is_ ? 6) Brooklyn Corporation res
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