32. Brown Corporation, a wholesale corporation, has a taxable income of $350,000. Brown Corporation's regular tax...
32. Brown Corporation, a wholesale corporation, has a taxable income of $350,000. Brown Corporation's regular tax liability is A) $73,500. B) $84,000. C) $100,000. D) $136,000.
Homework Answers
Brown Corporation, a wholesale corporation, has a taxable income of $350,000.
Tax rate on corporations = 21%
Brown Corporation's regular tax liability = Brown Corporation's taxable income x Tax rate
= 350,000 x 21%
= $73,500
Correct option is (A)
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