McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

تمرين 42

In its first year of existence Willow Corp.(a C corporation) reported a loss for tax purposes of $30,000.In year 2 it reports a $40,000 loss.For year 3, it reports taxable income from operations of $100,000 before any loss carryovers.Using the corporate tax rate table, determine how much tax Willow Corp.will pay for year 3.