LO.2 Connie has a tentative general business credit of $42,000 for the current year. Her net regular

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LO.2 Connie has a tentative general business credit of $42,000 for the current year. Her net regular tax liability before the general business credit is $107,000, and her tentative minimum tax is $88,000. Compute Connie’s allowable general business credit for the year.

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South Western Federal Taxation 2011 Taxation Of Business Entities

ISBN: 9780538498616

14th Edition

Authors: James E. Smith, William A. Raabe, David M. Maloney

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