Gopher Corporation reported taxable income of $ 500,000 this year. Gopher paid a dividend of $ 100,000 to its sole shareholder Sven Anderson. The dividend meets the requirements to be a qualified dividend, and Sven is subject to rate of 15 percent 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? Corporate tax Shareholder tax Total income tax $ 15,000
Gopher Corporation reported taxable income of $ 500,000 this year. Gopher paid a dividend of $ 100,000 to its sole shareholder Sven Anderson. The dividend meets the requirements to be a qualified dividend, and Sven is subject to rate of 15 percent 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? Corporate tax Shareholder tax Total income tax $ 15,000
Chapter14: Choice Of Business Entity—operations And Distributions
Section: Chapter Questions
Problem 30P
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