Which of the following statements is incorrect with respect to determining current E & P? a. Dividends received deductions should be subtracted from taxable income. ob. Federal income tax refunds should be added back to taxable income. c. Current-year charitable contributions in excess of the 10% of taxable income limit should be subtracted from taxable income. d. All tax-exempt income should be added back to taxable income.
Which of the following statements is incorrect with respect to determining current E & P? a. Dividends received deductions should be subtracted from taxable income. ob. Federal income tax refunds should be added back to taxable income. c. Current-year charitable contributions in excess of the 10% of taxable income limit should be subtracted from taxable income. d. All tax-exempt income should be added back to taxable income.
Chapter24: Multistate Corporate Taxation
Section: Chapter Questions
Problem 29P
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