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Consider the scenario of Luminous Corporation: Executive Name : Olivia Position : Chief Operating Officer (COO) Company Type : Publicly-traded company in the technology sector

Consider the scenario of Luminous Corporation:

  • Executive Name: Olivia
  • Position: Chief Operating Officer (COO)
  • Company Type: Publicly-traded company in the technology sector
  • Effective Date: January 1, 2022

The following table outlines Olivia's compensation for 2023:

  • Base Salary: $1,500,000
  • Performance Bonus: $200,000
  • Stock Options: 8,000

Determine the deductible portion of Olivia's compensation on Luminous Corporation's 2023 corporate income tax return.

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