Question
Using the current federal income tax rates on the four different types of income for individual taxpayers and corporate tax- payers. (a) What are these
Using the current federal income tax rates on the four different types of income for individual taxpayers and corporate tax- payers.
(a) What are these rates?
(b) Assume that a corporation has just earned $2 million in ordinary income, $1 million in interest income, and $3 million in realized long-term capital gains (net). Focusing only on the basics and ignoring deductions, what is its tax obligation? What are its marginal tax rates? What is its average tax rate?
(c) Assume that you (an individual) have just earned $2 million in ordinary income, $1 million in interest income, and $3 million in realized long-term capital gains (net). Focusing only on the basics and ignoring deductions, what is your income?
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Trends In Financial Decision Making
Authors: Cees Van Dam
1978 Edition
9020706926, 978-9020706925
