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(Solved) 2012 Corporate Tax Rate Schedule (partial) Taxable Income Greater But Less Than Or Tax Is Of the amount Than Equal To exceeding $0...


2012 Corporate Tax Rate Schedule (partial) Taxable Income Greater But Less Than Or Tax Is Of the amount Than Equal To exceeding $0 $50,000 15% $0 $50,000 $75,000 $7,500 + 25% $50,000 $75,000 $100,000 $13,750 + 34% $75,000 $100,000 $335,000 $22,250 + 39% $100,000 J KEB Corporation has the following revenues and expenses for the current tax year: Sales revenue, net of returns ........................... Dividend Income (less than 20% owned investees) .......... Cost of sales ...................................... Normal business expenses ............................. $100,000 25,000 30,000 40,000 1. What is JKEB Corporation’s dividends-received deduction for the current tax year? 2. Assuming that JKEB Corporation’s normal business expenses were $82,000 instead of $40,000, compute its dividends-received deduction for the current tax year.
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