Ask Experts Questions for FREE Help !
Ask
    Mathandler1's Avatar
    Mathandler1 Posts: 87, Reputation: 2
    Junior Member
    		  
    #1

    Aug 31, 2007, 12:32 PM
    General Business Credit (GBC)
    A scenario: If an employee has a general business credit (GBC) of $110,000 in 2004. Net Income tax is $125,000. Net regular tax liability before GBC is $125,000. Tenative minimum tax is $100,000. What would be the current allowable GBC for the year? I came up with $25,000 ($125,000 - $100,000). Did I answer this question correctly? Thanks
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 4, 2007, 08:51 AM
    I have ZERO experience with GBC.

    Sorry!
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

General Introduction letter of my new printing press to various business groups [ 5 Answers ]

I have opened up a new multi colour printing press. I need help in drafting an introduction letter to introduce my printing press in the various business groups. Regards, GDS

Starting business with bad credit [ 6 Answers ]

I know what type of businees to begin, which is a great need in the community. But where could I turn to for funding purposes especially if you have bad credit?

Business Credit [ 1 Answers ]

As a Corporation are there any Credit Cards (Master/Visa Cards) that donot require a PG for a Business Credit Card. If there are not any Creditors who issue Credit to Corporations or LLC without any PG information my question is what is the point of obtaining a Business Credit Card if your FICO...

View more questions Search