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Bt trucking has taxable income of $617,429. how much does it owe in taxes?

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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.

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