PWD Incorporated Is an Illinois Corporation A) $116,000
B) $130,833
C) $131,000
D)$164,333

question 117

Multiple Choice

PWD Incorporated is an Illinois corporation. It properly included, deducted, or excluded the following items on its federal tax return in the current year:
PWD's Federal Taxable Income was $100,000. Calculate PWD's Illinois state tax base.
$$\begin{array}{lll}\begin{array} { |l | l |l| }\hline \text { Item } & \text { Amount } & \text { Federal Treatment } \\\hline \text { Illinois Income Taxes } & \$ 33,333 & \text {deducated on federal return }\\\hline \text { Indiana Income Taxes } & \$ 18,500 &\text {deducated on federal return }\\\hline \text { Ohio Commercial Activity Tax} &\$4,000&\text {deducated on federal return }\\\hline\text { Illinois bind interst }&\$10,000&\text {excuded from federal return }\\\hline\text { indiana bind interst }&\$15,000&\text {excuded from federal return }\\\hline\text {ferderal T-note interst }&\$2,500&\text {included from federal return }\\ \hline\end{array}\end{array}$$

• A) $116,000
• B) $130,833
• C) $131,000
• D)$164,333

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Definitions:

Age Of Majority

The age at which an individual is considered legally capable of conducting himself or herself responsibly and is entitled to vote. In contract law, the age at which one is no longer an infant and can no longer disaffirm a contract.

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an agreement or contract that is enforceable by law, obligating parties to fulfill their contractual duties.

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Actions or terms that are excessively unfair or oppressive and not guided by conscience.

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