Question
Hi - please show working .. thanks The subsidiary of a U.S. corporation located in Country Y generated income of $1,000,000 on which it paid
Hi - please show working .. thanks
The subsidiary of a U.S. corporation located in Country Y generated income of $1,000,000 on which it paid $400,000 (40%) in taxes to Country Y.The subsidiary paid a dividend to the U.S. parent of $54,000.How much tax is currently owed to the U.S. government if the federal tax rate is 35%?
A)$18,900
B)$350,000
C)$140,000
D)$0
The subsidiary of a U.S. corporation located in Country Y generated income of $1,000,000 on which it paid $200,000 in taxes to Country Y.The subsidiary paid a dividend to the U.S. parent of $150,000.How much tax is currently owed to the U.S. government if the federal tax rate is 35%?
A)$35,625
B)$28,125
C)$52,500
D)$32,500
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