Assume that Clampett, Inc. has $230,000 of sales, $180,000 of cost of goods sold, $90,000 of interest income, and $70,000 of dividends. What is Clampett, Inc.'s excess net passive income?

Clampett, Inc. converted to an S corporation on January 1, 2018. At that time, Clampett, Inc. had cash ($37,000), inventory (FMV $57,000, Basis $24,000), accounts receivable (FMV $37,000, Basis $37,000), and equipment (FMV $57,000, Basis $77,000). In 2019, Clampett, Inc. sells its entire inventory for $57,000 (Basis $24,000). Assuming the corporate tax rate is 21% and that Clampett, Inc. taxable income in 2019 would been 1000000 How much built-in gains tax does Clampett, Inc. pay in 2019?

jazz Corporation owns 10% of the Williams Corp. stock. Williams distributed a $10500 dividend to Jazz Corporation. Jazz Corp.'s taxable income (loss) before the dividend was ($6050). What is the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp.?