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Determine the company federal tax payable

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Question - XYZ Inc. is a Canadian controlled private corporation. For the year ending December 31, 2020, the Company has Taxable Income of $262,000, all of which is active business income. Of this amount, $201,000 results from M&P activity. As it is associated with two other corporations, its share of the annual business limit is $110,000. Determine the Company's federal Tax Payable for the year ending December 31, 2020.

Reference no: EM133039870

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