Get personalized answers to your specific questions with IDNLearn.com. Get accurate and comprehensive answers to your questions from our community of knowledgeable professionals.
Sagot :
$101,850 the corporation's income tax liability for 2018 before tax credits.Quince Corporation has taxable income of $485,000 for its calendar tax year.
With effect from January 1, 2018, corporate income tax rate is 21%
Quince Corporation has taxable income of $485,000 for its calendar tax year
Hence, corporation's income tax liability for 2018 before tax credits = 485,000 x 21%= $101,850
Individuals (or family units) and corporations are subject to income taxes. The basis for calculating individual income tax is the income received. Since the burden is presumably on the individuals who pay it, it is typically categorized as a direct tax.
Learn more about income tax here:
https://brainly.com/question/17075354
#SPJ4
Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to assisting you again.
