The Parent consolidated group reports the following results for the tax year. Entity Income or Loss Parent $16,200 Sub1 (1,620) Sub2 6,480 Sub3 3,240   Do not round any division in your computations. If required, round your answers to nearest whole dollar. If an amount is zero, enter "0". a.  What is the group's consolidated taxable income and consolidated tax liability? If the relative taxable income method, the consolidated taxable income is $24,300 and the total consolidated tax liability is $5103. b.  If the Parent group has consented to the relative taxable income method, how will the consolidated tax liability be allocated among the Parent and Subsidiaries 1, 2, and 3?

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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.