nd on page eir shareholders be taxed on the retained earnings? No results Option

Question

nd on page eir shareholders be taxed on the retained earnings? No results Options v Corporate Income Tax Rates Taxable Income Tax 15% of the taxable income $7,500 + 25% of taxable income over $50,000 $13,750 + 34% of taxable income over $75,000 $22,250 + 39% of taxable income over $100,000 $1 13.900 34% of taxable income oer S335.000 $3,400,000 + 35% of taxable income over $ 10,000,000 $5,150,000 + 38% of taxable income over $15,000,000 35% of the taxable income $50,000 $50,000-$75,000 75,000-$100,000 100,000-$335,000 335,000-$10,000,000 10,000,000-$15,000,000 15,000,000-$18,333,333 Over $18,333,333

Explanation / Answer

Profit for the 3rd year $                               101,000.00 Loss for the 1st year $    26,000.00 Loss for the 2nd year $    47,000.00 Total losses carried over & set off $    73,000.00 $                                 73,000.00 Net taxable Income $                                 28,000.00 Tax paid in 3rd year @15% $                                    4,200.00

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