What is the tax liability for the red corporation

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Reference no: EM131970432

Problem

Red Crporation and White Corporation both calendar C corporations are members of a controlled group of corporations. For 2016, Red has taxable income of $180,000 and White had taxable income of $155,000. Assume that the controlled group does not make an election regarding the apportionment of the marginal tax brackets.

What is the tax liability for the Red Corporation?

Reference no: EM131970432

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