Answer:
A. = (15% X $2M) + (21% X $2M) = $720,000. Since there is no mechanism for mitigating double taxation, the branch profit will be taxed on the to tax rate of 15% and 21% which is $300,000 and $420,000.
B. The total tax for $2m branch profit if US corporations can remove foreign based profit from US taxation will be just the 15% x $2m = $300,000.
C.If they are allowed to take deductions for foreign income taxes, the total tax on the $2m branch profit will be (21% -15%) x $2m = $120,000.
Explanation:
D.1. If credit are allowed for foreign income tax paid, total tax will be ($2m - $300,000 been foreign tax paid) x 21% = $357,000
D.2.
If the charge foreign income taxes at 30% and US corporations can claim refundable credit for foreign income tax paid on foreign source income = ($2m - $300,000 been the foreign income tax paid) = $1 700,000 x 30% = $510,000
She's the last one since she's the only one you're talking to
This form of production that operates on supply and demand is the <u>market economy.</u>
<h3>Facts about the market economy </h3>
- Is controlled by forces of supply and demand.
- Citizens are allowed to own the means of production.
The warehouse Daveed works in is privately owned and they seek supply based on the demand for their goods.
This is in conclusion, a market economy.
Find out more on the market economy at brainly.com/question/1659498.
According to The American opportunity tax credit (AOTC<span>) Each student could </span>get a maximum annual<span> credit of $2,500 per eligible student.
So, </span><span>maximum education credit that emilio and lara can take on their return collectively is:
$ 2,500 x 2 = $ 5,000</span>
Explanation:
The CPI stands for Consumer Price index
. It refers to the change in the price level with respect to the goods and services available in the market.
The CPI is calculated below
= Given the cost of market goods and services using the price of given year by the Given cost of market goods and services using the price of a base year and then it would be multiplied by 100
While the GDP Deflator deals with the price of all goods and services that are produced in domestic.
