In determining a corporation's taxable income for state income tax purposes, which of the following does not constitute a subtraction from Federal income?
A) Interest on U.S.obligations.
B) Expenses that are directly or indirectly related to state and municipal interest that is taxable for state purposes.
C) Federal corporate income taxes paid.
D) The amount by which the Federal depreciation deduction exceeds the corresponding state amount.
Correct Answer:
Verified
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