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Home / Questions / 3) Operating income and tax rates for SALTCO’s first three years of operations were as follows:

3) Operating income and tax rates for SALTCO’s first three years of operations were as follows:

3) Operating income and tax rates for SALTCO’s first three years of operations were as follows:

Income Enacted tax rate

2017 (60,000) 34%

2018 (450,000) 21%

2019 980,000 21%

Required: Book the tax provision for SALTCO for each year shown, assuming that, as a result of the 2017

TCJA, SALTCO must carry forward all tax losses until they can be offset against taxable income.

 

Sep 12 2020 View more View Less

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