Green Grow Energies, Inc. reported a taxable income of $87,599,200 last year. What was their net income (in $) after paying corporate income taxes
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Green Grow Energies, Inc. reported a taxable income of $87,599,200 last year. What was their net income (in $) after paying corporate income taxes
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- Green Grow Energies, Inc. reported a taxable income of $87,588,200 last year. What was their net income (in $) after paying corporate income taxes?Last year, Martyn Company had $500,000 in taxable income from its operations, $50,000 in interest income, and $100,000 in dividend income. Using the corporate tax rate table given below, what was the company's tax liability for the year?Thornton, Inc., had taxable income of $130,022 for the year. The company's marginal tax rate was 34 percent and its average tax rate was 23.5 percent. How much did the company have to pay in taxes for the year?
- Martin Company has 500k in taxable income, 50k in interest income, 100k in dividend income. Using the corporate tax rate table, what is the company's tax liability for the year?Diamond, Inc. had the following Income Statement at the end of the year. Compute Diamond's federal income tax expense given the tax rate of 21%. What is the company's net income?Goose Industries faces the following tax schedule. Last year the company realized $15,000,000 in operating income (EBIT). Its annual interest expense is $7,500,000. (1) Compute the company’s income taxes payable? Use the tax rate table below. (2) What was the company’s net income for the year? If a corporation's taxable income is It pays this amount on the base of the bracket Plus this percentage on the excess over the base (marginal rate) Average tax rate at top of bracket Up to $50,000 $0 15% 15.0% $50,000 – $75,000 $7,500 25% 18.3% $75,000 – $100,000 $13,750 34% 22.3% $100,000 – $335,000 $22,250 39% 34.0% $335,000 – $10,000,000 $113,900 34% 34.0% $10,000,000 – $15,000,000 $3,400,000 35% 34.3% $15,000,000 – $18,333,333 $5,150,000 38% 35.0% Over $18,333,333 $6,416,667 35% 35.0% (1) $2,436,000 (2) $4,950,000 (1) $2,550,000 (2) $4,950,000 (1) $2,550,000 (2)…
- Give typing answer with explanation and conclusion 6. Thornton, Inc., had taxable income of $131,387 for the year. The company's marginal tax rate was 35 percent and its average tax rate was 22.8 percent. How much did the company have to pay in taxes for the year?In 2013, the Lenders collected $2,800,000 in taxable income. What was their total tax expense for that year?Jackson Heating & Air Company had sales revenue of $2,250,000 from operations during tax-year 1. Here are some operating data on the company for that year: (a) What is Jackson's taxable gains?(b) What is Jackson's taxable income?(c) What are Jackson's marginal and average tax rates?(d) What is Jackson's net cash flow after tax?
- Byron Brock’s inc recently reported $13 million of net income. It’s EBIT was $20375000, and it’s tax rate was 35%. What was urs interest expenseUsing the Corporated Federal Income Tax Rate (2006), calculate the federal income tax that should be paid by a company that has a gross income of $250,000, expenses of $70,000, and depreciation of $20,000 O a. $22,250 O b. $160,000 Oc $45,650 O d. $62,400In year k, the before-tax cash flow of a corporation is $513,422. During year k, the expense is $112,274. The depreciation is $5,003. The effective income tax rate is 24%. What is the ATCF for this year?