Upon completing this chapter, you should be able to:
LO 16-1
Describe the corporate income tax formula, compare and
contrast the corporate to the individual tax formula, and
discuss tax considerations relating to corporations'
accounting periods and accounting methods.
LO 16-2
Identify common book-tax differences, distinguish between
permanent and temporary differences, and compute a
corporation's taxable income and regular tax liability.
LO 16-3
Describe a corporation's tax return reporting and estimated
tax payment obligations.
LO 16-3
Explain how to calculate a corporation's alternative
minimum tax liability.
