1. Corporation XYZ has the following income/expenses/dividends paid:
   1. Income = $1,000,000
   2. Expenses = $335,000
   3. Dividends paid to Tyler: $100,000

Net taxable income is:

Assuming a 21% tax rate, how much tax is due?

How much tax does Tyler owe (assume Tyler is subject to 20% tax rate)?

What is the total tax paid by both Tyler and Corporation XYZ?

Would this differ if XYZ was a partnership rather than a corporation? Why?