In Determining State Taxable Income, All of the Following Are

question 11

Multiple Choice

In determining state taxable income, all of the following are adjustments to Federal income except:

• A)A Federal net operating loss.
• B)Federal income tax expense.
• C)Dividends received from other U.S.corporations.
• D)Wages paid to officers and executives.

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Definitions:

Retirement Contributions

Money set aside into retirement accounts, such as a 401(k) or IRA, often with tax advantages.

Medicare

A federal health insurance program in the United States primarily for people who are 65 or older, but also for some younger people with disabilities.

Health Insurance

A form of insurance coverage that pays for medical and surgical expenses incurred by the insured, or reimburses the insured for expenses incurred from illness or injury.

Craft Kits

Prepackaged sets containing materials and instructions for creating handcrafted items.