Low Tech Inc. is a Canadian-controlled private corporation (CCPC) with 2020 SR&ED expenditures of $885,000. In 2019, the Company's Taxable Capital Employed In Canada was $7 million, Determine their total investment tax credit for 2020 and indicate the amount that would be refundable. O A. The total credit would be $102,750. The refundable amount would be $102,750. OB. The total oredit would be $239,750. The refundable amount would be $239,750. OC. The total credit would be S239,750. The refundable amount would be $102,750. OD. The total credit would be $102,750. The refundable amount would be $102,750.
Low Tech Inc. is a Canadian-controlled private corporation (CCPC) with 2020 SR&ED expenditures of $885,000. In 2019, the Company's Taxable Capital Employed In Canada was $7 million, Determine their total investment tax credit for 2020 and indicate the amount that would be refundable. O A. The total credit would be $102,750. The refundable amount would be $102,750. OB. The total oredit would be $239,750. The refundable amount would be $239,750. OC. The total credit would be S239,750. The refundable amount would be $102,750. OD. The total credit would be $102,750. The refundable amount would be $102,750.
Chapter25: Taxation Of International Transact Ions
Section: Chapter Questions
Problem 32P
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![Low Tech Inc. is a Canadian-controlled private corporation (CCPC) with 2020 SR&ED expenditures of $885.000. In 2019, the Company's Taxable
Capital Employed In Canada was $7 million. Determine their total investment tax credit for 2020 and indicate the amount that would be refundable.
OA. The total credit would be $102,750. The refundable amount would be $102,750.
OB. The total credit would be S239,750. The refundable amount would be $239,750.
OC. The total credit would be S239,750. The refundable amount would be $102,750.
OD. The totali credit would be $102.750. The refundable amount would be $102.750.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F660251ef-4acf-417b-a8c7-b4ff12ff0ba6%2F738fa2fd-5aa0-4a02-8279-06d117e3be66%2F2kg8m9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Low Tech Inc. is a Canadian-controlled private corporation (CCPC) with 2020 SR&ED expenditures of $885.000. In 2019, the Company's Taxable
Capital Employed In Canada was $7 million. Determine their total investment tax credit for 2020 and indicate the amount that would be refundable.
OA. The total credit would be $102,750. The refundable amount would be $102,750.
OB. The total credit would be S239,750. The refundable amount would be $239,750.
OC. The total credit would be S239,750. The refundable amount would be $102,750.
OD. The totali credit would be $102.750. The refundable amount would be $102.750.
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