Corporations do not differentiate the tax rates paid on income and dividends. Corporations accumulate all revenues and dividends received and pay their corporate tax rate on the total amount. For example, if a corporation had revenue of $100,000 and dividends of $30,000, they will pay one tax on the total amount of $130,000. However, corporations, unlike individuals, can receive a tax deduction on the dividends received depending on whether they have ownership in that company and the percentage of ownership. Thus, if Company A owns 50% of Company B and Company B pays Company A $30,000 in dividends, Company A may be able to take a deduction on the $30,000 in the dividends received. This can all be done on the internet. This is all explained in the text but I want you to see where this is referenced in the IRC Code. Thus please refer to IRC 243 and IRS Publication 542 for an explanation of these topics. Please provide a summary of at least 8 sentences that lists the ownership requirements and corresponding deductions that are available for these corporations. Additionally, while you are reading Publication 542, please list other deductions permitted by corporations. Corporations do not differentiate the tax rates paid on income and dividends. Corporations accumulate all revenues and dividends received and pay their corporate tax rate on the total amount. For example, if a corporation had revenue of $100,000 and dividends of $30,000, they will pay one tax on the total amount of $130,000. However, corporations, unlike individuals, can receive a tax deduction on the dividends received depending on whether they have ownership in that company and the percentage of ownership. Thus, if Company A owns 50% of Company B and Company B pays Company A $30,000 in dividends, Company A may be able to take a deduction on the $30,000 in the dividends received. This can all be done on the internet. This is all explained in the text but I want you to see where this is referenced in the IRC Code. Thus please refer to IRC 243 and IRS Publication 542 for an explanation of these topics. Please provide a summary of at least 8 sentences that lists the ownership requirements and corresponding deductions that are available for these corporations. Additionally, while you are reading Publication 542, please list other deductions permitted by corporations