Which of the following taxes paid by the Fowlers Company can be deducted during 2018?
I.State sales tax on utilities.
II.Federal income tax paid in 2018 when filing Fowlers' 2017 corporate tax return.

Question

Which of the following taxes paid by the Fowlers Company can be deducted during 2018?
I.State sales tax on utilities.
II.Federal income tax paid in 2018 when filing Fowlers' 2017 corporate tax return.
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Quizplus · Accepted Answer

State sales tax on utilities is generally deductible as a business expense. However, federal income taxes are not deductible for corporations.

Which of the Following Taxes Paid by the Fowlers Company