Answered: The Carla Vista Rain Gear Company had…

The Carla Vista Rain Gear Company had $647,600 in taxable income in the year ending September 30, 2020. Calculate the company's tax using a flat tax rate of 25%. Company's tax bill $

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 1SSQ

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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

The Carla Vista Rain Gear Company had $647,600 in taxable income in the year ending September 30, 2020. Calculate the company's
tax using a flat tax rate of 25%.
Company's tax bill $

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