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Mariana [72]
3 years ago
13

A company wants to set up operations in a country with the following corporate tax rate structure: Taxable Income Tax Rate <$

50,000 15% $50,000 - $75,000 25% $75,000 - $100,000 34% >$100,000 39% Therefore, a taxable income of $60,000 would result in taxes due of $50,000*0.15 + ($60,000-$50,000)*0.25 = $50,000*0.15 + $10,000*0.25 = $10,000 If the compay expects gross revenues of $400,000, $100,000 in total costs, $60,000 in allowable tax deductions and $12,000 in a one-time business start-up credit, how much should the company expect to pay in taxes?
Business
1 answer:
Alisiya [41]3 years ago
3 0

Answer:

Taxable income = $240,000

Amount payable = $64,850

Explanation:

As per the data given in the question,

Taxable income :

Gross revenue = $400,000

Total cost = $100,000

Net profit = $400,000 - $100,000 = $300,000

Allowable tax deduction = $60,000

Taxable income = $300,000 - $60,000

= $240,000

Tax to be paid :

Computation of tax       Amount to be taxed           Rate            Tax

$50,000                                 $50,000                        15%            $7,500

$50,000 to $75,000             $25,000                        25%           $6,250

$75,000 to $100,000           $25,000                         34%           $8,500

More than $100,000             $140,000                       39%           $54,600

Total tax                                                                                           $76,850

Amount payable = Total tax - Tax credit

= $76,850 - $12,000

=$64,850

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Answer:

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4 0
3 years ago
Having some clients who are less knowledgeable about investing and seem to be more trusting of their firm, the management of a f
xxMikexx [17]

Answer:

The correct answer is b) a Ponzi scheme.

Explanation:

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7 0
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Charles lackey operates a bakery in Idaho, Falls Because of its excellent product location, demand has increased by 35% in the l
irina1246 [14]

Answer:

1) $0.27 per loaf of bread

2) $0.28 per loaf of bread

3) 3.7%

Explanation:

current production = 1,800 loaves per month

current labor expense = $8 per hour

constant utility cost = $800

ingredients per loaf = $0.40

multi-factor productivity = total output / (labor + materials + overhead)

current multi-factor productivity = 1,800 loaves / ($5,120 + $800 + $720) = $0.27 per loaf of bread

new output level = 1,800 x 1.35 = 2,430 loaves

new multi-factor productivity = 2,430 loaves / ($6,912 + $800 + $972) = $0.28 per loaf of bread

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6 0
3 years ago
What annual rate of return is implied on a $2,500 loan taken next year when $5,375 must be repaid in year 6? (Do not round inter
Zarrin [17]

Answer:

16.54%

Explanation:

We have to applied the rate formula that is shown in the attachment.

The NPER shows the time period.  

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The present value come in negative  

So, after solving this,  the annual rate of return is implied is 16.54%

4 0
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