What is band inc taxable income in province

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Question - Band Inc. is a public Canadian corporation which was established five years ago. The company's head office is located in Province 1. A small branch was established in Province 2 last year. The company's books show the following for the current year:

Sales in Province 1: $6,800,000

Sales in Province 2: $1,200,000

Total labour costs of the company: $2,000,000

Labour costs in Province 1: $1,500,000

Labour costs in Province 2: $500,000

Income from operations in Province 1: $550,000

Income from operations in Province 2: $100,000

Dividends received from a taxable Canadian corporation: $50,000

Required - What is Band Inc.'s taxable income in Province 1?

Reference no: EM133064553

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