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A company generates net income for the year of $500,000, all of which is distributed to the owners. Demonstrate the impact of double taxation by
A company generates net income for the year of $500,000, all of which is distributed to the owners. Demonstrate the impact of double taxation by calculating the tax due if the Company is a C-Corporation or a Partnership. For the purposes of these calculations, assume the following tax rates: corporate tax rate: 28% dividend tax rate: 20% ordinary income tax rate: 35%
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