Module 8 - Why different tax procedures for corporations?...

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it’s a legal and separate entity from its owners Types of corporations Public corporations Private corporations -CCPC controlled neither by Non-re -Other private corporations controlled by non-residents -special group of private corps controlled by public corpora Crown Corporations Do Problem 11- 4 Net Income  240000 + Provision for income taxes 102000 refer to the solution handout!! Calculation of taxable Income Net Income For Tax Purposes ( Div B Inc or Section  271435 LessDivision C Deductions 1Charitable donations 2Losses from other periods Non-capital losses       Prop Loss       Bus Loss       Farming Loss       Restricted farm loss ABIL Net Capital Losses 3Taxable Dividend from Taxable Cdn Corps 4Taxable Dividend from its Foreign Affiliates Taxable income 325000 Part I Tax Payable - Public Corporations + Basiuc Federal tax - 38% x TI 
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Module 8 - Why different tax procedures for corporations?...

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