In the current year, Moore Corporation is deemed to be a PHC and reports the following results Taxable income $200,000 Dividend received from an 18 owned domestic corporation 50,000 Dividends paid 75,000 a What is Moores regular tax liability (ignoring any AMT implications) b What is Moores PHC tax...

a 61250 22250 tax on first 100000 of taxable income 100000 x 039 b PHC tax 19750 020 ...

In the current year, Moore Corporation is deemed to be a PHC and reports the following results:

Question:

In the current year, Moore is deemed to be a PHC and reports the following results:
Taxable income ………………………………………………………… $200,000
Dividend received from an 18%-owned domestic …………50,000
Dividends paid ………………………………………………………….75,000
a. What is Moore’s regular tax liability (ignoring any AMT implications)?
b. What is Moore’s PHC tax liability?
c. What measures can Moore take to eliminate its PHC tax liability after year-end and before it files its tax return? After it files its tax return? Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...