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Page 217
EXAMPLE : The example below illustrates the application of the ITC transitional rules in conjunction with the reduced tax limitation ( i.e. , 75 percent offset of tax liability ) on the general business credit . For the calendar taxable ...
EXAMPLE : The example below illustrates the application of the ITC transitional rules in conjunction with the reduced tax limitation ( i.e. , 75 percent offset of tax liability ) on the general business credit . For the calendar taxable ...
Page 218
Calculation of 1987 tax liability : Tax liability before ITC : ITC allowed in 1987 : After - credit tax liability : $ 100,000 ( 81,250 ) $ 18,750 Assume for 1988 the corporation again has a before- tax - credit tax liability of ...
Calculation of 1987 tax liability : Tax liability before ITC : ITC allowed in 1987 : After - credit tax liability : $ 100,000 ( 81,250 ) $ 18,750 Assume for 1988 the corporation again has a before- tax - credit tax liability of ...
Page 225
A taxpayer can now offset the amount of alternative minimum tax paid in excess of the regular income tax ( known as the net minimum tax ) against its regular income tax liability in a sub- sequent year when the regular income tax ...
A taxpayer can now offset the amount of alternative minimum tax paid in excess of the regular income tax ( known as the net minimum tax ) against its regular income tax liability in a sub- sequent year when the regular income tax ...
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Bibliographic information
| Title | Proceedings of the Annual Iowa State University Regulatory Conference on Public Utility Valuation and the Rate Making Process, Volume 26 |
| Contributors | Iowa State University. Engineering Extension Service, Iowa State University. Industrial Engineering Department |
| Publisher | Iowa State University., 1987 |
| Original from | the University of Michigan |
| Digitized | 26 Aug 2006 |
| Export Citation | BiBTeX EndNote RefMan |