Gator,Inc. ,is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year.Assume a 34% corporate tax rate and no valuation allowance.

Gator Inc.'s gross deferred tax assets and liabilities at the beginning of Gator's year are listed below.

Gator Inc.'s book income before tax is $6,300.Gator has two permanent differences between book and taxable income.It earned $250 in tax exempt municipal bond interest and had $460 in nondeductible meals and entertainment expense.Provide the income tax footnote rate reconciliation for Gator.

Question

Gator,Inc. ,is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year.Assume a 34% corporate tax rate and no valuation allowance.

Gator Inc.'s gross deferred tax assets and liabilities at the beginning of Gator's year are listed below.

Gator Inc.'s book income before tax is $6,300.Gator has two permanent differences between book and taxable income.It earned $250 in tax exempt municipal bond interest and had $460 in nondeductible meals and entertainment expense.Provide the income tax footnote rate reconciliation for Gator.

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The Answer of Gator,Inc. ,is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year.Assume a 34% corporate tax rate and no valuation allowance.

Gator Inc.'s gross deferred tax assets and liabilities at the beginning of Gator's year are listed below.

Gator Inc.'s book income before tax is $6,300.Gator has two permanent differences between book and taxable income.It earned $250 in tax exempt municipal bond interest and had $460 in nondeductible meals and entertainment expense.Provide the income tax footnote rate reconciliation for Gator.

Gator,Inc ,Is a Domestic Corporation with the Following Balance Sheet