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How is the net worth tax determined for a short-period income tax return?

April 26, 2017NET Return short-period tax worth

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How is the net worth tax determined for a short-period income tax return?

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• For short periods other than initial or final returns, the tax is computed on the net worth of the corporation from the ending balance sheet of the short period return. The tax is then prorated based on the number of months included in the short period return.