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Max Inc., a Canadian-controlled private corporation, has a fiscal year end of December 31. Max...

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Accounting

Max Inc., a Canadian-controlled private corporation, has a fiscal year end of December 31. Max Inc. is not associated with any other corporation and all of its income is earned in Canada. The following selected tax information has been provided for 2023:

Active business income

300,000

Taxable income

450,000

Taxable capital employed in Canada in 2022

30,000,000

Required: Determine Max Inc.s small business deduction for the 2023 taxation year.

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