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To clarify, I just wanted to make sure, using your example, that the 28% did not apply to ALL of the taxed income, hence less of a bite then if it had. Your scenario is an excellent illustration of the succinct answer I received to my original question.....thanks to both of you.

(when I was running my business I had less time to think about these things.....maybe that was a good thing....<grin>...ONLY KIDDING!!!!!!

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