N 12 Wren, Inc. had $490,000 in taxable revenues this year and $510,000 in deductible business expenses. In addition, Wren received a $46,000 dividend from Cardinal Corporation, a domestic C-corporation of which Cardinal owns 16%. What is Wren’s dividends received deduction this year?
N 12 Wren, Inc. had $490,000 in taxable revenues this year and $510,000 in deductible business expenses. In addition, Wren received a $46,000 dividend from Cardinal Corporation, a domestic C-corporation of which Cardinal owns 16%. What is Wren’s dividends received deduction this year?
Chapter24: Multistate Corporate Taxation
Section: Chapter Questions
Problem 1BCRQ
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N 12
Wren, Inc. had $490,000 in taxable revenues this year and $510,000 in deductible business expenses. In addition, Wren received a $46,000 dividend from Cardinal Corporation, a domestic C-corporation of which Cardinal owns 16%. What is Wren’s dividends received deduction this year?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT