If a corporation receives 150,500 in interest income, and the firm's marginal income tax rate is 40%, how much of the interest income is taxable?
2007-02-08 20:10:37 · 3 answers · asked by x700 1 in Business & Finance ➔ Taxes ➔ United States
All of the interest is taxable on the 1120. In addition you need to check the personal holding company rules to determine if you are subject to those rules and subject to a double tax.
2007-02-08 22:32:55 · answer #1 · answered by waggy_33 6 · 0⤊ 0⤋
All of it is taxable. To find the tax, here's the formula. 150,500 * .4 =
You can do the maths.
2007-02-08 23:50:51 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
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2007-02-10 00:14:14 · answer #3 · answered by Anonymous · 0⤊ 1⤋