Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a corporation had eamings of $70,000 and paid all of this out as a dividend to the owners, how much tax would the corporate

image text in transcribed
If a corporation had eamings of $70,000 and paid all of this out as a dividend to the owners, how much tax would the corporate entity pay the federal government? Assume a 20% federal income tax rate and a 15% dividend tax rate. Multeile Cheice 514000 510.500 324.500 10 6

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Technology Auditing And Assurance

Authors: James A. Hall, Tommie Singleton

2nd Edition

0324191987, 978-0324191981

More Books

Students also viewed these Accounting questions

Question

In Exercises, use limits to compute f(x). + 7 + X^=(x)f

Answered: 1 week ago