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Beta C-Corp, a had gross sales of $880,000, cost of sales of $540,000, and 145,000 operating expenses. The company also paid bonus to executives of
Beta C-Corp, a had gross sales of $880,000, cost of sales of $540,000, and 145,000 operating expenses. The company also paid bonus to executives of $145,000 (not included in operating expenses) for the current calendar year. Dividends of $90,000 were paid at the end of the year. What is the total income tax paid? Use the 2018 rates for C-Corp. Assume the top individual rates for all individual income (37%) and ignore Obamacare.
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