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An s corporation in lawrence kansas has a recognized

Question - An S corporation in Lawrence, Kansas has a recognized built-in gain of $110,000 and taxable income of $98,000. The company has an $8,000 NOL carry forward from a C corporation year and a $9,000 business credit carry forward from a C corporation year. What is the built-in gains tax liability?

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Accounting Basics: An s corporation in lawrence kansas has a recognized

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