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In 2021 a company is considering alternative organizational forms. Its gross business earnings are $100,000. The owner is single and has $3,000 of personal
In 2021 a company is considering alternative organizational forms. Its gross business earnings are $100,000. The owner is single and has $3,000 of personal income from other sources and itemized deductions of $11,000. The owner receives compensation for services of $50,000 from the company. Business charitable contributions are $4,000. What is this corporation's income tax liability if the business is operated as a C corporation? $0 $6,900 $9,660 $10,500
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