Koscil Inc. had the following taxable income. Corporate tax rate schedule.
U.S. source income $\quad$$\quad$$\quad$$ 1,435,000
Foreign source income $\quad$$\quad$$\quad$850,000
Taxable income $\quad$$\quad$$\quad$$\quad$ $ 2,285,000
Koscil paid $315,000 foreign income tax. Compute its U.S. income tax liability.

Question

Koscil Inc. had the following taxable income. Corporate tax rate schedule.
 U.S. source income $\quad$$\quad$$\quad$$ 1,435,000 
Foreign source income $\quad$$\quad$$\quad$850,000 
Taxable income $\quad$$\quad$$\quad$$\quad$ $ 2,285,000 
Koscil paid $315,000 foreign income tax. Compute its U.S. income tax liability.

Quizplus · Accepted Answer

The Answer of Koscil Inc. had the following taxable income. Corporate tax rate schedule.
 U.S. source income $\quad$$\quad$$\quad$$ 1,435,000 
Foreign source income $\quad$$\quad$$\quad$850,000 
Taxable income $\quad$$\quad$$\quad$$\quad$ $ 2,285,000 
Koscil paid $315,000 foreign income tax. Compute its U.S. income tax liability.

Koscil Inc \quad \quad \quad $ 1,435,000 Foreign Source Income \quad

Koscil Inc $\quad$ $\quad$ $\quad$ $ 1,435,000
Foreign Source Income $\quad$