Question

Amherst machine is a manufacturer of tools. How much corporate income tax most they pay on $2,100,000 in income.

Answer 1

Amherst Machine would most likely have to pay $441,000 in corporate income tax on $2,100,000 in income.

Step-by-step explanation:

To determine the corporate income tax that Amherst Machine would have to pay on $2,100,000 in income, we need to know the corporate tax rate. Each country or state sets its own tax rates for corporations. Assuming we are talking about the United States, the tax rate for corporations can vary based on their income bracket, but the highest federal corporate income tax rate is 21%. To calculate the tax amount, we multiply the income by the tax rate: $2,100,000 * 0.21 = $441,000.