Business, 19.07.2020 14:01, robert7248

Balboa Corporation activities for the year are summarized below: Addition modifications $29,000
Allocated income (total) 25,000
Allocated income (State F) 3,000
Allocated income (State G) 22,000
Apportionment percentage 40%
Credits 800
Federal taxable income 90,000
Subtraction modifications 15,000
Tax rate 5%

Compute Balboa Corporation's State F taxable income and net tax liability for the year.

Answers: 3

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Balboa Corporation activities for the year are summarized below: Addition modifications $29,000