Wang Systems operates in a state that has a corporate tax rate of 8% and is deductible from the income taxed by the federal government. If the incremental federal tax is 34%, then the combined effective tax rate is 36.9% True/False Johnson's Inc. made $150,000 in 2012 doing consulting work for a company in Tennessee. The company had other taxable income of $1,000,000 in year 2012. The federal income tax for the consulting work done in Tennessee is $58, 500 True/False