United Airline recorded a record $15 billion loss due to the pandemic and dramatic decline in air travel in 2020. The 2017 tax code allows companies to deduct 80% of their pretax income from past operating losses. If United Airline expect to make $3 billion pretax income in 2021, how much is the company's expected income tax in 2021 if its tax rate is 21%?

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Q: tax liability

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A: Part 1:

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Q: None

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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.