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Black & White, Inc. has $20,000 in taxable income, plus a long-term

Customer Question
capital gain of $10,000. Its...
Black & White, Inc. has $20,000 in taxable income, plus a long-term capital gain of $10,000. Its tax liability is:

a. $4,500
b. $10,200
c. $5,800
d. $7,500
Submitted: 7 years ago.Category: Tax
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Answered in 7 minutes by:
11/1/2010
Tax Professional: Richard, Tax Attorney replied 7 years ago
Richard
Richard, Tax Attorney
Category: Tax
Satisfied Customers: 56,025
Experience: 29 years of experience as a tax, real estate, and business attorney.
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Good evening....Both are taxed at 15% so the tax would be $4500.

 

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

Richard
Richard, Tax Attorney
Category: Tax
Satisfied Customers: 56,025
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