Question

calculate the tax burdens associated with each tax below as directed i have to show my calculations
Redball Productions is a new company based in Orem, Utah. Utah state corporate income tax consists of a flat rate of 5 percent on all corporate income. Redball Production's taxable income was $500,000. what amount of state income tax did Redball Production's owe?

how do i solve this?

Answer 1

you need to take 5% of 500,000.. do you understand why?

Answer 2

the percent

Answer 3

so i divide

Answer 4

5 % is what is taken out of there money

Answer 5

Yeah.. it says income tax consists of a flat rate of 5 percent on all corporate income. and the total income was 500,000..

Answer 6

ok

Answer 7

im pretty sure here you would times by .05.. im not exactly sure

Answer 8

so mulp

Answer 9

yeah i got 25000...

Answer 10

so how would i show my work by 0.5 x 500,000=2500000

Answer 11

@chlobohoe