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11 August, 10:26

Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2018 the firm earned $ 94 comma 800 before taxes. a. Calculate the firm's tax liability using a flat tax rate of 21 %. b. How much are Tantor Supply's 2018 after-tax earnings?

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  1. 11 August, 13:46
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    tax expense for the period: $19,908

    net income or earning after taxes: $74,892

    Explanation:

    We will multiply the income before taxes by the tax-rate. The result of the multiplication will be the tax expense for company.

    Then, we subtract this expense to obtain the after-tax earning or net income.

    Let's begin:

    pre-tax income x tax-rate

    94,800 x 21% = 19,908 income tax expense

    earnings before taxes - income tax expense

    94,800 - 19,908 = 74,892 earnings after-tax
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Home » Business » Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2018 the firm earned $ 94 comma 800 before taxes. a.
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