Calculate federal tax payable for the taxation year

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Question - Marsden Inc., a Canadian public company, has 2020 Taxable Income of $362,000. It has permanent establishments in Ontario, Manitoba and the U.S. Its 2020 gross revenues and 2020 wages and salaries at these establishments are as follows:

 

Gross Revenues

Wages and Salaries

Ontario

$840,000

$300,000

Manitoba

1,080,000

540,000

U.S.

480,000

360,000

Total

$2,400,000

$1,200,000

Required - Calculate federal Tax Payable for the taxation year ending December 31, 2020. Ignore any foreign tax implications.

Reference no: EM132930730

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