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please answer both Gopher Corporation reported taxable income of $550,000 this year. Gopher paid a dividend of $150,000 to its sole shareholder, Sven Anderson. Gopher
please answer both
Gopher Corporation reported taxable income of $550,000 this year. Gopher paid a dividend of $150,000 to its sole shareholder, Sven Anderson. Gopher Corporation is subject to a flat rate tax of 21%. The dividend meets the requirements to be a qualified dividend and Sven is subject to a tax rate of 15% on the dividend. What is the income tax imposed on the corporate income earned by Gopher and the income tax on the dividend distributed to Sven? QUestion 2 Bulldog Corporation reported taxable income of $550,000 this year before any deduction for any payment to its sole shareholder and employee, Georgia Brown. Bulldog chose to pay a bonus of $150,000 to Georgia at year-end. Bulldog Corporation is subject to a flat-rate tax of 21%. The bonus meets the requirements to be "reasonable" and is therefore deductible by Bulldog. Georgia is subject to a marginal tax rate of 35% on the bonus. What is the income tax imposed on the corporate income earned by Bulldog and the income tax on the bonus paid to GeorgiaStep by Step Solution
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