- Use The Tax Rate Taken From Exhibit 11 6 To Calculate The Total Taxes Paid For Lansing Inc This Year Lansing S Preta 1 (667.3 KiB) Viewed 30 times
Use the tax rate taken from Exhibit 11.6 to calculate the total taxes paid for Lansing, Inc., this year. Lansing's pretax income was $165,000. Exhibit 11.6 U.S. Corporate Tax Rate Schedule in 2007 Taxable Income More But Not More Than Than Tax Owed so $50,000 15% of amount beyond $0 $50,000 $75,000 $7,500 +25% of amount beyond $50,000 $75,000 $100,000 $13,750 +34% of amount beyond $75,000 $100,000 $335.000 $22,250 -39% of amount beyond $100,000 $335,000 $10,000,000 $113,900 34% of amount beyond $335.000 $10,000,000 $15,000,000 $3,400,000 -35% of amount beyond $10,000,000 $15,000,000 $18,333,333 $5,150,000 -38% of amount beyond $15,000,000 $18,333,333 35% on all income O none of these $61,250 $127,500 $47,600 $90,500