With Respect to the Determination of Tax Payable for a Corporation

question 78

Multiple Choice

With respect to the determination of Tax Payable for a corporation, which of the following statements is not correct?

• A)The federal tax abatement percentage is reduced when less than 100 percent of the corporation's income is allocated to a province.
• B)The basic tax rate applicable to corporations is 38 percent.
• C)Provincial corporate taxes are based on a flat rate applied to a taxable income figure.
• D)Full rate taxable income includes any income that is not eligible for the small business
• Deduction.
• Small Business Deduction

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A biological mechanism that generates a new life form through the merging of genetic information from two distinct organisms.