Which of the following is not calculated in the corporate income tax formula?
A)Gross income.
B)Adjusted gross income.
C)Taxable income.
D)Income tax liability.

Question

Quizplus · Accepted Answer

Adjusted gross income is not a factor in the corporate income tax formula. Instead, the formula includes gross income, deductions, and other adjustments to arrive at taxable income, which is then multiplied by the applicable tax rate to determine the income tax liability.

Which of the Following Is Not Calculated in the Corporate