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bbazan
Mar 29, 2013, 08:06 AM
Does anyone have a formula that solves for the state tax deduction on the federal 1120 and the federal tax deduction on the state?

For example, a Kansas corporation with pre-tax income of 24,618.

The Kansas rate is 4% after deduction for federal income tax.

The federal rate is 15% after deduction for state income tax.

My algebra is a little "rusty"
Bob