Unformatted text preview: There is no taxable income in the current year, and taxes payable are currently $nil. Determine: The amount of Investment Tax Credits for 2010. The amount of refundable ITC’s for 2010. What is the appropriate treatment of the non-refundable portion? How will these tax credits affect income in 2011?...
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- Fall '10
- Taxation in the United States, investment tax credits, Taxable Capital Employed, SRED current expenditures, SRED capital expenditures