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In 2011,T Corporation changed its tax year from ending each September 30th to ending each December 31st.The corporation earned $25,000 during the period October 1,2011 through December 31,2011.The tax on the annualized income for the short period will be greater than the tax on $25,000 when the tax rates are progressive.
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The process or quality of drawing interest or notice toward something or someone.
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