e Puffin 900000 900000 200000 Does not include a 120000 NOL carryover from the

E puffin 900000 900000 200000 does not include a

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e.Puffin900,000900,000200,000***Does not include a $120,000 NOL carryover from the prior year.**Only $60,000 relates directly to manufacturing activities.
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98. Robin Corporation, a calendar year taxpayer, manufactures and sells candles. It has several factories in the U.S. and one in Jamaica. During 2012, it had DPGR of $4.1 million from the U.S. factories.a.If the gross receipts from the products made in Jamaica are $200,000, what is Robin’s DPGR for 2012?b.If the gross receipts sourced to the Jamaica plant are $300,000, what is Robin’s DPGR for 2012?99. Ecru Corporation sells customized outdoor grills. The company purchases various parts and materials from foreign sources for $750 and incurs $240 in labor costs at a factory in North Carolina to fabricate and assemble the product. Ecru also incurs packaging, selling, and other costs of $60 and sells the grill for $1,200. If tax year 2012 is involved, calculate Ecru’s per unit:a.DPGRb.QPAIc.DPAD
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100. Akuta, Inc., has $4 million in gross receipts of which $2.4 million is DPGR. CGS is $1,700,000 and other deductions (marketing, administrative) are $700,000. Using the small business simplified deduction method, determine Akuta’s QPAI. 101. Maize Corporation has gross receipts of $3 million of which $1 million are non-DPGR. CGS identified with DPGR is $1.3 million, while overall selling and administrative expenses are $600,000. Under the simplified deduction method, determine Maize’s QPAI. 102. Sweet Corporation, a new corporation, has gross receipts of $4.9 million, $6.9 million, and $8.6 million in 2010, 2011, and 2012, respectively. Is this corporation a small corporation with respect to the AMT in years 2010, 2011, 2012, and 2013? 103. Campbell, Inc., a calendar year corporation that was created in February 2008, has gross receipts as follows:YearGross Receipts2008$2,990,22020093,310,76320104,885,02720117,626,68120129,120,132
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Does Campbell qualify for the small corporation exemption for each year (as well as 2013)?104. In each of the following independent situations, calculate accumulated taxable income, if any. Assume the corporation is not a mere holding or investment company.Copper CorporationBronze CorporationTaxable income$150,000$500,000Accrued Federal income taxes41,750170,000Capital loss adjustment2,000Net LTCG42,000Tax on LTCG14,280Charitable contributions in excess of 10%15,000NOL deduction24,00070% dividends received deduction35,000Dividends paid deduction7,20018,000Accumulated earnings credit44,00092,500105. a. Calculate the personal holding company tax in 2012 based upon the following information.
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