Britta, Inc., a U.S.corporation, reports foreign-source income and pays foreign taxes as follows.
Britta's worldwide taxable income is $1,600,000 and U.S.taxes before FTC are $560,000 (assume a 35% tax rate).What is Britta's U.S.tax liability after the FTC?

Question

Britta, Inc., a U.S.corporation, reports foreign-source income and pays foreign taxes as follows.
  Britta's worldwide taxable income is $1,600,000 and U.S.taxes before FTC are $560,000 (assume a 35% tax rate).What is Britta's U.S.tax liability after the FTC?

Quizplus · Accepted Answer

The Answer of Britta, Inc., a U.S.corporation, reports foreign-source income and pays foreign taxes as follows.
  Britta's worldwide taxable income is $1,600,000 and U.S.taxes before FTC are $560,000 (assume a 35% tax rate).What is Britta's U.S.tax liability after the FTC?