In fiscal 2016, Snap-On Inc. reported a statutory tax rate of 35%, an effective tax rate of 30.5%. Income before income tax for 2016 was $801.4 million.
What did Snap-On report as tax expense (on its income statement) in 2016?

Question

In fiscal 2016, Snap-On Inc. reported a statutory tax rate of 35%, an effective tax rate of 30.5%. Income before income tax for 2016 was $801.4 million. 
What did Snap-On report as tax expense (on its income statement) in 2016?

Quizplus · Accepted Answer

The Answer of In fiscal 2016, Snap-On Inc. reported a statutory tax rate of 35%, an effective tax rate of 30.5%. Income before income tax for 2016 was $801.4 million. 
What did Snap-On report as tax expense (on its income statement) in 2016?

In Fiscal 2016, Snap-On Inc