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Calulate mauves tax liability for the short period november

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Reference no: EM132053326

Question - Mauve Corporation began operations as a farm supplies business and used a fiscal year ending October 31. The company gradually went out of the farm supplies business and into the mail-order Christmas gifts business. The company has received permission from the IRS to change to a fiscal year ending January 31, effective for the year ending January 31, 2016. For the short period November 1, 2015, through January 31, 2016, Mauve earned $20,000. Calulate Mauves tax liability for the short period November 1, 2015, through January 31, 2016.

Reference no: EM132053326

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