Lime,Inc. ,has taxable income of $330,000.If Lime is a C corporation,its tax liability must be $111,950 [($50,000 ´ 15%)+ ($25,000 ´ 25%)+ ($25,000 ´ 34%)+ ($230,000 ´ 39%)].

Question

Quizplus · Accepted Answer

The Answer of Lime,Inc. ,has taxable income of $330,000.If Lime is a C corporation,its tax liability must be $111,950 [($50,000 ´ 15%)+ ($25,000 ´ 25%)+ ($25,000 ´ 34%)+ ($230,000 ´ 39%)].

Lime,Inc ,Has Taxable Income of $330,000