Beola Corporation is subject to tax only in State A. Beola Corporation generated the following...
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Accounting
Beola Corporation is subject to tax only in State A. Beola Corporation generated the following Income and deductions.
| Federal Taxable Income | $800,000 |
| State A Income Tax Expense | 65,000 |
| Depreciation allowed for Federal Income Tax purposes | 400,000 |
| Depreciation allowed for State Income Tax purposes | 290,000 |
Federal Taxable Income is the starting point in computing State A Taxable Income. State Income Taxes are not deductible for State A tax purposes. Beola Corporation's State A Taxable Income is:
| $975,000. | ||
| $835,000. | ||
| $800,000. | ||
| $865,000. |
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