What is maximum amount of income on which the company claim

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Question - During the year ending December 31, 2020, Oxdor Ltd., a Canadian controlled private corporation had the following sources of income. Active Business Income Earned In Canada=$230,000. Active Business Income Earned In New York State=126,000. Net Taxable Capital Gains =30,000, Rent Received on An Unused Portion Of The Company's Manufacturing Facility=45,000, Investment Income Earned In Canada =16,000, Net Income For Tax Purposes= $447,000, Taxable Income=$260,000. The Company paid no foreign taxes on its foreign operations. It is associated with another corporation and they agreed to split the annual business limit on a 50/50 basis. What is the maximum amount of income on which the Company can claim the small business deduction?

Reference no: EM133040370

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