About the regular tax liability

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Palmdale Corporation has a regular tax liability of $94,000. It is eligible for a $54,000 general business credit for the current year and has a $30,000 general business credit carryover from the prior year. a. What is Palmdale’s allowable general business credit for the current year? $ b. What is its credit carryover to future years? $

Reference no: EM131203641

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About the regular tax liability : Palmdale Corporation has a regular tax liability of $94,000. It is eligible for a $54,000 general business credit for the current year and has a $30,000 general business credit carryover from the prior year. a. What is Palmdale’s allowable general bu..

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