DLW Corp. is a CCPC. DLW is associated with another corporation and has been allocated 80% of the business limit for the year. The following information pertains to DLW's 2022 taxation year: Taxable income $963,000 Aggregate investment income $536,000 Business foreign tax credit $ 32,000 Federal Part I tax (note 1) $164,000 Note 1: Federal Part I tax is net of an SBD of $59,470. Which of the following is the refundable Part I tax added to DLW's NERDTOH for 2022? A. $55,680 B. $133,400 C. $160,080 D. $164,000
DLW Corp. is a CCPC. DLW is associated with another corporation and has been allocated 80% of the business limit for the year. The following information pertains to DLW's 2022 taxation year: Taxable income $963,000 Aggregate investment income $536,000 Business foreign tax credit $ 32,000 Federal Part I tax (note 1) $164,000 Note 1: Federal Part I tax is net of an SBD of $59,470. Which of the following is the refundable Part I tax added to DLW's NERDTOH for 2022? A. $55,680 B. $133,400 C. $160,080 D. $164,000
Chapter25: Taxation Of International Transact Ions
Section: Chapter Questions
Problem 29P
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Transcribed Image Text:DLW Corp. is a CCPC. DLW is associated with another corporation and has been allocated 80% of the business limit for the
year. The following information pertains to DLW's 2022 taxation year: Taxable income $963,000 Aggregate investment
income $536,000 Business foreign tax credit $ 32,000 Federal Part I tax (note 1) $164,000 Note 1: Federal Part I tax is net of
an SBD of $59,470. Which of the following is the refundable Part I tax added to DLW's NERDTOH for 2022? A. $55,680 B.
$133,400 C. $160,080 D. $164,000
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