What is the corporation total tax liability, Accounting Basics

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What is the corporation total tax liability

A corporation is subject to both the personal holding company tax and the accumulated earnings tax. Its regular taxable income is $200,000. Its adjusted taxable income for imposing the personal holding company tax is $170,000 and its taxable income for determining the accumulated earnings tax is $230,000. What is the corporation's total tax liability?

1. $65,620

2. $86,750

3. $95,750

4. $121,250

5. None of the above

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Accounting Basics: What is the corporation total tax liability

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Recent Questions Asked Accounting Basics

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Accounting Basics: What is the corporation total tax liability

Reference No:- TGS066282

Recent Questions Asked Accounting Basics

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