What is the total state and federal income tax

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Question: A major industrialized state has a state corporate tax rate of 9.6% of taxable income. If a corporation has a state taxable income of $150,000, what is the total state and federal income tax it must pay? Also, compute its combined incremental state and federal income tax rate. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132168117

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