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  • Gross Sales or Receipts XXX Less: Cost of Sales/Service XXX Gross Income XXX Less: Allowable Deductions XXX

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    JosephineFadul
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    Tax Computations

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    Gross Sales or Receipts XXX Less: Cost of Sales/Service XXX Gross Income XXX Less: Allowable Deductions XXX

    Uploaded by

    JosephineFadul

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    A.

    Graduated Income Tax Rates

    GROSS SALES OR RECEIPTS XXX

    LESS: COST OF SALES/SERVICE XXX

    GROSS INCOME XXX

    LESS: ALLOWABLE DEDUCTIONS XXX

    TAXABLE INCOME XXX

    B. 8% income tax rate - gross

    GROSS SALES OR RECEIPTS XXX

    LESS: 250,000 threshold/exemption _250,000.00

    TAXABLE INCOME XXX

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