Marshall Mathers , a non-resident alien not engaged in trade or business, owns 1,000,000 shares in MWC, Inc. In 2021, MWC declared 20% stock dividends, during which the fair market value of the shares is P1/share. How much is the final tax on the dividends?

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A: Taxable income is defined as any person or business remuneration that is utilized to calculate tax…

Q: How much is the tax of Mr. RACH for the said transactions?   15,000 22,500 7,500 exempt

A: Capital gain is the gain that is earned by the company other than its business activities. The…

Q: Slava Grichuk is a 58-year-old employee with First Delta Corp. His employment income Is $100,000 in…

A: Introduction:- Slava Grichuk is a 58-year-old employee of First Delta Corp. His employment will pay…

Q: 2. Oak Company has $475,000 in taxable income before deducting any allowable compensation or other…

A: Given: Taxable income = $475,000 Marginal tax budget = 32% C corporation pays himself = $200,000

Q: Kara sold to Mia shares of stock of a foreign corporation at a selling price of P1,000,000 with an…

A: Answer: As per Bureau of revenue department at Philippines, the capital gain is applicable for the…

Q: at purchase was $69159 and Sri's

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A: Cash dividends received by an individual who is a resident alien of the Philippines are subject to a…

Q: My question is would Horace's tax liability on the $5000 gain on the sale of stock as ordinary…

A: Capital Gain Taxes According to Internal Revenue Service (IRS) there are two types of Capital gain…

Q: As of the beginning of the 2020, David owns stock in UNF Corporation and his tax basis = $200,000 .…

A: Capital gain: Gain arising when the capital asset held is sold at higher prices than its purchase…

Q: Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The…

A: The question you have posted contains two sub-parts. Both sub-parts are solved below:

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Q: items of income or loss in 2019 and does not itemized her deductions, what are the tax consequences…

A: When a corporate entity purchase its own shares/stocks from its shareholders either during lifetime…

Q: Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does…

A: Answer:-  S corporation meaning:- For the purposes of federal taxation, S companies are businesses…

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A: Melanie shareholding is 25% Tax rate on dividend income is 26% Total Dividend payment by Gimli is…

Q: From the given data below, how much is the final tax on the dividend earned by Cruz? ZAX…

A: solution : we are required to calculate final tax on dividend earned by cruz total dividend declared…

Q: 1. Ian holds 100 shares in Big Bank Pty Ltd. The company paid a fully franked dividend of $4 per…

A: Solution note Dear student as per the Q&A guideline we are required to answer the first question…

Q: USA Corp, a calendar year domestic corporation, owns 30 percent of the stock of XYZ Corp, a calendar…

A: SOLUTION :     As per Tax cuts and jobs act, there is deemed tax liability on unrepatriated…

Q: Mr. Neis, a resident alien, owns 40% of the shares of Coco Corporation, a resident corporation. Coco…

A: Cash dividends received by an individual who is a resident alien of the Philippines are subject to a…

Q: Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto Inc, which…

A: As you have posted multiple independent questions, we are answering first three questions. Please…

Q: Wineseller Corporation is owned by Mortimer Smith, its sole shareholder.  Mortimer has a $20,000…

A: Distributions made by a corporation to its shareholders are treated as follows: 1. Treat as…

Q: In 2018 your employer, a publicly traded corporation, gave you options to purchase 1,000 shares of…

A: Sometimes the company gives the employees an option to purchase the shares of the company at a…

Q: Wineseller Corporation is owned by Mortimer Smith, its sole shareholder.  Mortimer has a $20,000…

A: Distributions made by a corporation to its shareholders are treated as follows: 1. Treat as…

Q: Tennis, Corporation, a calendar-year corporation,  had a deficit in accumulated earnings and profits…

A: Answer Building Distributed as dividend which adjusted basis = $150,000 and , fair market value…

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A: Step 1 Tax liability is the total amount of tax debt owed by an individual, corporation, or other…

Q: Jay owns 100% of Kaye Company.  In 2020, Kaye Company recognizes a long-term capital gain (LTCG) of…

A: Depending on the type of entity, the income earned by the entity will be taxed a certain way.…

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A: The S-corporation can be defined as the form of business organization established by group of…

Q: Nicanor, resident citizen, sold his shares of stock from ABC Corporation, a foreign corporation…

A: a. Only S1 is true

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A: 1. CEP and Accumulate E&P = $ 20,000 Taxable dividend income = $20,000

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A: S corporation stock was $ 32500 Directly loaned to the S corporation = $ 9900

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A: S corporation : Regarded as small business corporations. Does not have to pay federal and state…

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A: Taxes are the amount of liabilities and dues that is to be paid by the individuals on account of…

Q: Mr. Siegfried, a resident citizen, received P100,000 dividend income from Vodka, Inc., a domestic…

A: Dividend income is kind of revenue or reward which is received by a shareholder or an individual…

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A: When a stock is held for more than 12 months, the profit or loss on sale of such stock is long-term…

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A: The Combined Tax Rate is the highest combined federal, state, and local income tax rates applicable…

Q: Chris is the 100% shareholder of the Denture Corporation, an S corporation, and has a basis of…

A: a) Basis before loss deduction = $10,000 + $5000 - $2000 = $13,000 Loss = $20,000 Basis reduces to…

Q: Peter is the sole shareholder in a calendar year S corporation. In 2021, his stock basis is $50,000,…

A: S-Corporation: S corporation is a a type of legal business entity and  have specific Internal…

Q: At the beginning of the current year, Maple Corporation (a calendar year taxpayer) has accumulated E…

A: Dividends are the part or share of profits that is being distributed to the shareholders.

Q: 4) Larry is a 100% owner of LKJ Corporation. LKJ has been an S corporation since its inception in…

A: The answer is stated below:

Q: Jeff, a 52% owner of an S corporation, has a stock basis of zero at the begin- ning of the year.…

A: In the given case, Jeff's basis at the beginning of the year is 0. To determine the taxability of…

Q: Accounting Jay owns 100% of Kaye Company. In 2020, Kaye Company recognizes a long-term capital gain…

A: A sole proprietorship is a type of business in which only people are able to carry on business. All…

Q: Karen purchased 100 shares of X-Corporation Stock in 2020. X-Corporation is registered and…

A: Working :-                                         Number of  shares  purchased by…

Q: Several years ago, Mr. B’s employer gave him options to purchase 1,200 shares of the employer’s…

A: Working :-                         April 2020        :-  1200 shares x 32 per share = $38400…

Q: . Gomez maintains a law firm and registered as VAT taxpayer. For a particular client, the amount of…

A: Comment- Multiple Questions Asked. Question-1 Income Tax- Income Tax refers to the charge which is…

Q: 67. In 2018, Susan Christian transferred a machine with a fair market value of $30,000 and an…

A: Taxable income:- These are that income that falls under income tax slabs as per the government norms…

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A: Tax refers to the compulsory financial obligation as well as some other kind of levy imposed on the…