Which of the following taxes paid by the Fowlers Company can be deducted during 2014? I. State sales tax on utilities. II. Federal income tax paid in 2014 when filing Fowlers' 2013 corporate tax return.
A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.
Correct Answer:
Verified
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