139k views
3 votes
Bt trucking has taxable income of $617,429. how much does it owe in taxes?

1 Answer

5 votes

Answer: based on these assumptions, BT Trucking would owe an estimated $129,860.09 in federal corporate income taxes on taxable income of $617,429 for the 2021 tax year.

Explanation: If we assume that BT Trucking is a regular C-corporation and doesn't have any deductions or credits, we can estimate its tax liability as follows:

Tax liability = Tax rate x Taxable income

Tax liability = 21% x $617,429

Tax liability = $129,860.09

Therefore, based on these assumptions, BT Trucking would owe an estimated $129,860.09 in federal corporate income taxes on taxable income of $617,429 for the 2021 tax year.

User Aneto
by
7.9k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.