John Green began a group of companies in 20x0 which he refers to as the 'Green Group'. The companies earn only active business income. The parent company of the group is Green Co., which is a successful CCPC with $300,000 of taxable income in 20x1. Green Co. has two wholly owned subsidiaries. Subsidiary 1, Black Co., has taxable income of $50,000 in 20x1, and Subsidiary 2, Red Co. has a loss of $20,000 in 20x1 and unused losses from 20x0 of $15,000. Green Co. and Black Co. did not incur losses in 20x0. The corporate tax rate is 13%. What is the combined tax liability for the Green Group corporations in 20x1?

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The Answer of John Green began a group of companies in 20x0 which he refers to as the 'Green Group'. The companies earn only active business income. The parent company of the group is Green Co., which is a successful CCPC with $300,000 of taxable income in 20x1. Green Co. has two wholly owned subsidiaries. Subsidiary 1, Black Co., has taxable income of $50,000 in 20x1, and Subsidiary 2, Red Co. has a loss of $20,000 in 20x1 and unused losses from 20x0 of $15,000. Green Co. and Black Co. did not incur losses in 20x0. The corporate tax rate is 13%. What is the combined tax liability for the Green Group corporations in 20x1?

John Green Began a Group of Companies in 20x0 Which