Please help The income tax rate for Hudson Refinery has been 35 percent for each...
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The income tax rate for Hudson Refinery has been 35 percent for each of its 12 years in operation. Company forecasters expect a much-debated tax reform bill to be passed by the new Congress next year. The new tax rate would decrease Hudson's tax rate to 15 percent.
Discuss the company's deferred tax liability strategy going forward. Which rate should the company use, and why should they use that rate?
Discuss the impact that strategy will have on the company's net income and cash flow for the next three years should the bill pass.
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