Which one of the following statements about corporate tax rates for the current

Question

Which one of the following statements about corporate tax rates for the current year is true? A. Corporate taxable income is subject to a top marginal tax rate of 39.6%. B. The marginal tax rate is 34% if taxable income is over $50,000 but not over $75,000. C. The marginal tax rate is 25% on the first $50,000 of taxable income. D. A 5% surtax is charged on taxable income between $100,000 and $335,000, and a 3% surtax is charged on taxable income between $15,000,000 and $18,333,333. Which one of the following statements about corporate tax rates for the current year is true? A. Corporate taxable income is subject to a top marginal tax rate of 39.6%. B. The marginal tax rate is 34% if taxable income is over $50,000 but not over $75,000. C. The marginal tax rate is 25% on the first $50,000 of taxable income. D. A 5% surtax is charged on taxable income between $100,000 and $335,000, and a 3% surtax is charged on taxable income between $15,000,000 and $18,333,333.

Explanation / Answer

A 5% surtax is charged on taxable income between $100,000 and $335,000, and a 3% surtax is charged on taxable income between $15,000,000 and $18,333,333. Option D is correct

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