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It is 2017. The company you founded called Mineral Gells had earnings before tax of $100,000,000 this year (congratulations!). You are the companys sole owner.
It is 2017. The company you founded called Mineral Gells had earnings before tax of $100,000,000 this year (congratulations!). You are the companys sole owner. The corporate tax rate is 35%, you are in the 39.6% marginal bracket, and your dividends are taxed at 20%. Mineral Gells is an S-corporation and does a 50% distribution of income. How much do you personally have to pay in taxes, and what is your after-tax distribution of income?
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