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Wynn Sheet Metal reported a net operating loss of $140,000 for financial reporting and tax purposes in 2016. The enacted tax rate is 30%. Taxable
Wynn Sheet Metal reported a net operating loss of $140,000 for financial reporting and tax purposes in 2016. The enacted tax rate is 30%. Taxable income, tax rates, and income taxes paid in Wynn's first four years of operation were as follows: Income Taxes Taxable Income 2012 S 80,000 2013 90,000 2014 100,000 Tax Rates Paid 20% $ 16,000 18,000 30,000 28,000 20 30 35 2015 80,000
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