A C corporation with taxable income of $100,000 in the current year will have a tax liability of $22,250.

Name: A C corporation with taxable income of $100,000 in the current year will have a tax liability of $22,250.
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

As of the last update in 2023, the federal corporate income tax rate for C corporations in the United States is a flat 21%. Therefore, a C corporation with taxable income of $100,000 would have a tax liability of $21,000 (21% of $100,000), not $22,250.

A C Corporation with Taxable Income of $100,000 in the Current