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.