Bermuda Corporation reports the following results in 2009 and 2010:
What is Bermuda's contribution deduction in 2011 and 2012? What is the disposition of any remaining amount?
Definitions:
Income
Payment received, often on a consistent schedule, for employment or from investment profits.
Marginal Ordinary Income Tax Rate
The percentage of tax applied to your income for each tax bracket in which you qualify, increasing progressively as your income surpasses threshold amounts.
Qualified Dividends
Dividend payments received on shares of a corporation, taxed at a lower tax rate than regular income.
Tax Rate
The percentage at which an individual or corporation is taxed.
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