If I operate my corporation in multiple provinces, is there a special way my taxable income gets allocated to the provinces?
Allan Madan, CA
The taxable income in the multiple provinces gets allocated based on a formula. The taxable income is prorated and allocated based on the salaries paid and the gross revenue earned in those provinces.
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ABOUT THE AUTHOR
ALLAN MADAN
CA.CPA.CGA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
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