During the current year, Skylar Company (a calendar year entity) had operating income of $420,000 and operating expenses of $250,000. In addition, Skylar had a long-term capital loss of $20,000, and a charitable contribution of $5,000. Toby, the sole owner of Skylark, is in the 24% marginal tax bracket irrespective of any income from Skylark.

Determine the combined tax burden for skylark and Toby under the following independent situations. (Ignore any employment taxes)

1. Skylark is an LLC, and Toby withdraws all of the after-tax income from the company during the year.

2. Skylark is a regular C corporation , and Toby does not withdraw any funds from the company during the year.