Prior to the effect of tax credits, Eunice's regular income tax liability is $325,000 and her tentative minimum tax is $312,000.Eunice has general business credits available of $20,000.Calculate Eunice's tax liability after tax credits.
A)$0
B)$305,000
C)$312,000
D)$325,000

Question

Quizplus · Accepted Answer

The Answer of Prior to the effect of tax credits, Eunice's regular income tax liability is $325,000 and her tentative minimum tax is $312,000.Eunice has general business credits available of $20,000.Calculate Eunice's tax liability after tax credits.
A)$0
B)$305,000
C)$312,000
D)$325,000

Prior to the Effect of Tax Credits, Eunice's Regular Income