Quantco, a domestic corporation, is an engineering consulting firm that has its main offices in San Diego, California. Because Quantco does a considerable amount of business in China, it has a branch office in Beijing. During the current year, Quantco generates a total pre-tax profit of $100 million (all from active business operations), including $80 million of profits from its U. S. operations and $20 million of profits from its Chinese operations. Assume the U. S. tax rate is 35% and the Chinese rate is 40%.

A) Compute Quantco's creditable foreign income taxes, foreign tax credit limitation, and excess credits (if any).

Now assume that Quantco has a second foreing branch office in Singapore which generated $10 million of profits (all from active business operations), on which Quantco pays Singapore taxes. Assume the Singapore tax rate is 25%.

B) Recompute Quantco's creditable foreing income taxes, foreing tax credit limitation and excess credits. What is the name of the phenomenon by which the Singapore profits resulted in the elimination of the excess credits of the Chinese profits?

The law of demand is the assertion that ?

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

You have $5,300 to deposit. regency bank offers 6 percent per year compounded monthly (.5 percent per month), while king bank offers 6 percent but will only compounded annually. how much will your investment be worth in 17 years at each bank