Computation of Federal and State Income Tax Provision

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Tab-29 Computation of Federal and State Income Tax Provision: Page 67.  The tax values calculated in Tab-29 are optional.  This calculation shows the estimated federal and state income tax provision for a regular C Corp. on the accrual basis.  The actual cash-basis tax could be more or less depending on how cash receipts are managed at year-end.   This tax computation is based on the desired increase in net worth plus any dividend distribution to shareholders.  The calculated tax provision is copied to Tab-20 Profit Target for the estimated Corporation Income Tax Provision (for the accrual basis).

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