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Please show work. 1. Compute how much tax is owed if your company earns $760,012 dollars pretax (and pays out all the net income to
Please show work.
1. Compute how much tax is owed if your company earns $760,012 dollars pretax (and pays out all the net income to yourself) under 3 different forms of organizations: proprietorship, limited liability company, and corporation (assuming your personal income tax rate is 37% and the corporate income tax rate is 21%). 2. Compute how much you personally owe if your business goes bankrupt with $20,012 more in liabilities than assets under 3 different forms of organization: proprietorship, limited liability company, and corporationStep by Step Solution
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