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Non-Resident Alien

Non-Resident Alien

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter3: Preparing Your Taxes
Section: Chapter Questions
Problem 2FPE: ESTIMATING TAXABLE INCOME, TAX LIABILITY, AND POTENTIAL REFUND. Hannah Owens is 24 years old and...
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Answer the following: Refer to the table provided

(A) Income Tax Rates Effective Jan. 1, 2018 until Dec. 31, 2022: RANGE OF TAXABLE TAX DUE = a + (b x c) INCOME BASIC ADDITIONAL OF EXCESS OVER NOT OVER AMOUNT RATE OVER (a) (b) (c) 250,000.00 400,000.00 800,000.00 2,000,000.00 8,000,000.00 250,000.00 20% 400,000.00 800,000.00 250,000.00 400,000.00 30,000.00 25% 130,000.00 490,000.00 2,410,000.00 30% 2,000,000.00 8,000,000.00 800,000.00 2,000,000.00 8,000,000.00 32% 35%
Transcribed Image Text:(A) Income Tax Rates Effective Jan. 1, 2018 until Dec. 31, 2022: RANGE OF TAXABLE TAX DUE = a + (b x c) INCOME BASIC ADDITIONAL OF EXCESS OVER NOT OVER AMOUNT RATE OVER (a) (b) (c) 250,000.00 400,000.00 800,000.00 2,000,000.00 8,000,000.00 250,000.00 20% 400,000.00 800,000.00 250,000.00 400,000.00 30,000.00 25% 130,000.00 490,000.00 2,410,000.00 30% 2,000,000.00 8,000,000.00 800,000.00 2,000,000.00 8,000,000.00 32% 35%
Problem 8A do Non-Resident Alien Ms. Camellia is an alien employed by Cadence Corp., a regional headquarter (RHQ) of a multinational company. She received compensation income of P2,000,000 in 2018, including P150,000 13th month pay and other benefits. Compute for Ms. Camellia's income tax due for the year.
Transcribed Image Text:Problem 8A do Non-Resident Alien Ms. Camellia is an alien employed by Cadence Corp., a regional headquarter (RHQ) of a multinational company. She received compensation income of P2,000,000 in 2018, including P150,000 13th month pay and other benefits. Compute for Ms. Camellia's income tax due for the year.
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