The tax liability of a corporation with ordinary income of $1,500,000 is ________
Range of taxable income Marginal rate
$0 to $50,000 15%
50,000 to 75,000 25
75,000 to 100,000 34
100,000 to 335,000 39
335,000 to 10,000,000 34
10,000,000 to 15,000,000 35
15,000,000 to 18,333,333 38
Over 18,333,333 35
A) $498,250
B) $510,000
C) $585,000
D) $690,000
B
You might also like to view...
Which of the following is an example of a talking heading?
a. Survey b. Changes to Employee Benefits c. Findings d. Discussion
Which of the following statements pertaining to tax-sheltered annuities (TSAs) is CORRECT?
A) TSAs are available to any worker not covered by an employer-sponsored retirement plan. B) TSAs are available to employees of certain nonprofit organizations. C) Alice, the vice president of a computer software company, can invest in a tax-sheltered annuity. D) Fred, a schoolteacher participating in a tax-deferred annuity, will receive his benefits tax-free.