e tax arbitrage rate applicable to interest expense is- * 20% of the interest expense 20% of the any interest income 20% of any interest income subject to final tax 20% of any interest income subject to income tax
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The tax arbitrage rate applicable to interest expense is- *
- 20% of the interest expense
- 20% of the any interest income
- 20% of any interest income subject to final tax
- 20% of any interest income subject to income tax
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- LO.2 Oak Corporation has the following general business credit carryovers. If the general business credit generated by activities during 2019 equals 36,000 and the total credit allowed during the current year is 60,000 (based on tax liability), what amounts of the current general business credit and carryovers are utilized against the 2019 income tax liability? What is the amount of unused credit carried forward to 2020?Le Bron Corporation has the following information for 2021 taxable year: Quarter RCIT MCIT CWT First P200,000 P160,000 P40,000 Second 240,000 500,000 60,000 Third 500,000 150,000 80,000 Fourth 300,000 200,000 70,000 Additional information: Excess MCIT from 2020: P60,000 Excess tax credits from 2020: P20,000 1.) How much was the income tax payable for the first quarter? a. 200,000 b. 160,000 c. 120,000 d. 80,000 2.) How much was the income tax payable for the second quarter? a. 660,000 b. 460,000 c. 200,000 d. 160,000 3.) How much was the annual income tax payable? a. 1,260,000 b. 390,000 c. 230,000 d. 930,000Given the following information, how much is the total income tax credit available for deduction from the regular corporate income tax due? Quarterly income tax payments P320,000.00 Creditable withholding taxes withheld by customers P 80,000.00 Net operating loss carry-over from 2021 P150,000.00 MCIT excess credits from 2020 P 50,000.00 Group of answer choices P50,000.00 P600,000.00 P450,000.00 P400,000.00
- If the current year tax rate is 20% and a company estimates next year's tax rate will be 25%, income tax payable is calculated using the 20% rate and the desired ending balances of the deferred tax accounts are calculated using the 25% rate. • True O FalseRhodes Corporation’s financial statements are shown after part f. Suppose the federalplus- state tax corporate tax is 25%. Answer the following questions.a. What is the net operating profit after taxes (NOPAT) for 2020?b. What are the amounts of net operating working capital for both years?c. What are the amounts of total net operating capital for both years?d. What is the free cash flow for 2020?e. What is the ROIC for 2020?f. How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.)1. You have the following information Interest charges = JD 50 000 per year Tax rate = 40% Net Income= JD 90 000 Required: What is the fim's times-interest-earned (TIE) ratio?
- Clementi Corporation provided the following information for the current year 2022: Accounting income (pre-tax) in 2022 is $400 million. Installment Receivable at the end of 2022 equaled $20 million. and is expected to be collected equally in 2023 and 2024. Warranty Liability balance at the end of 2022 equaled $16 million and is expected to be paid equally in 2023 and 2024. The income tax rate is 20%. Clementi Corporation records income tax payable equal to: O $79.2 million O $72.8 million O $87.2 million O $80.8 million.The following table pertains to C. J. Company: Year Taxable Income Tax Rate 2020 ($1,000,000) 25% 2021 $680,000 25% 2022 $725,000 20% What is income tax expense for 2021? Select one: a. $136,000 b. $80,000 c. $170,000 d. $0Taxpayer Y, who has a 30 percent marginal tax rate, invested $65,000 in a bond that pays 8 percent annual interest. Compute Y’s annual net cash flow from this investment assuming that a. The interest is tax-exempt income.b. The interest is taxable income.
- 1. In 2021, Eric Corporation reported P90,000 net income before income taxes. The income tax rate for 2021 was 30 percent. Eric had an unused P60,000 net operating loss carryforward arising in 2020 when the tax rate was 35 percent. The income tax expense Eric would report for 2021 would beHow much is the income tax payable assuming the taxable year is 2021? a. 330,000 b. 775,000 c. 800,000 d. 3,180,000A company which started its operation in the year 8. The pannel set the MARR at 10% after-tax. CCA rate = 20% FOR EQUIPTMENT. a) What is the remaining Undepreciated Capital cost at the end of year 20 12? b) What is the equivalent annual worth of the tax savings associated with these transactions if the corporate tax rate is 40%?
