Determine the corporation income tax liability

Reference no: EM13125917

In each of the following independent situation, determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2011.

Taxable Income
Purple Corporation $ 45,000
Axul Corporation $310,000
Pink Corporation $2,350,000
Turquoise Corporation $21,000,000
Teal Corporation (A personal service Corporation) $ 80,000

Reference no: EM13125917

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