Solution-How much foreign taxes will us inc have as a credit

How much foreign taxes will us inc have as a credit

Reference no: EM133188968

Question - Earl Jones earned $1m of taxable income in the current tax year and paid $300,000 of French income tax (30% tax rate). It will distribute the remaining $700k to its parent company, US Inc. (100% owner). How much foreign taxes will US Inc. have as a credit for US tax purposes?

Reference no: EM133188968

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How much foreign taxes will us inc have as a credit : Earl Jones earned $1m of taxable income in the current tax year and paid $300,000 of French income tax. How much foreign taxes will US Inc have as a credit

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How much foreign taxes will us inc have as a credit

Reference no: EM133188968

Reference no: EM133188968

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