Hickman, Inc., a U.S. corporation, operates an unincorporated branch manufacturing operation in the United Kingdom. Hickman, Inc., reports $900,000 of taxable income from the U.K. branch on its U.S. tax return along with $1,300,000 of taxable income from its U.S. operations. Hickman paid $270,000 in U.K. income taxes related to the $900,000 in branch income. Assuming a U.S. tax rate of 35%, what is Hickman's U.S. tax liability after any allowable foreign tax credits?

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The Answer of Hickman, Inc., a U.S. corporation, operates an unincorporated branch manufacturing operation in the United Kingdom. Hickman, Inc., reports $900,000 of taxable income from the U.K. branch on its U.S. tax return along with $1,300,000 of taxable income from its U.S. operations. Hickman paid $270,000 in U.K. income taxes related to the $900,000 in branch income. Assuming a U.S. tax rate of 35%, what is Hickman's U.S. tax liability after any allowable foreign tax credits?