Hoosier Incorporated Is an Indiana Corporation A) $171,300
B) $173,800
C) $204,633
D)$207,133

Multiple Choice

Hoosier Incorporated is an Indiana corporation. It properly included, deducted, or excluded the following items on its federal tax return in the current year:
State depreciation expense was $50,000. Hoosier's Federal Taxable Income was $150,300. Calculate Hoosier's Illinois state tax base.
$$\begin{array} { | l | c | l | } \hline \text { Item } & \text { Amoun } & \text { Federal Treatment } \\\hline \text { Illinois Income Taxes } & \$ 33,333 & \begin{array} { l } \text { Deducted on federal } \\\text { return }\end{array} \\\hline \text { Indiana Income Taxes } & \$ 18,500 & \begin{array} { l } \text { Deducted on federal } \\\text { return }\end{array} \\\hline \begin{array} { l } \text { Ohio Commercial } \\\text { Activity Tax }\end{array} & \$ 4,000 & \begin{array} { l } \text { Deducted on federal } \\\text { return }\end{array} \\\hline \text { Depreciation } & \$ 40,000 & \begin{array} { l } \text { Deducted on federal } \\\text { return }\end{array} \\\hline \text { Illinois Bond Interest } & \$ 10,000 & \begin{array} { l } \text { Excluded from federal } \\\text { return }\end{array} \\\hline \text { Indiana Bond Interest } & \$ 15,000 & \begin{array} { l } \text { Excluded from federal } \\\text { return }\end{array} \\\hline \text { Federal T-Note Interest } & \$ 2,500 & \begin{array} { l } \text { Included on federal } \\\text { return }\end{array} \\\hline\end{array}$$

A) $171,300
B) $173,800
C) $204,633
D) $207,133