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Author Question: Artco Inc. is a C corporation. This year it earned $50,000 of taxable income and paid a $10,000 ... (Read 68 times)

craiczarry

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on: Sep 13, 2020

Question 1

A corporation has revenue of $350,000 and deductible business expenses of $240,000. What is the federal income tax, before credits?
◦ $16,500
◦ $22,500
◦ $26,150
◦ $42,900

Question 2

Artco Inc. is a C corporation.  This year it earned $50,000 of taxable income and paid a $10,000 distribution (dividend) to Lily, its sole shareholder.  Lily has a marginal tax rate of 25%.  Due to the corporation's results and the distribution paid, the IRS will receive total taxes of
◦ $9,000.
◦ $12,500.
◦ $14,000.
◦ $10,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by craiczarry on Sep 13, 2020

fromAlphatoOmega22

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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craiczarry

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

frankwu0507

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Reply 3 on: Yesterday
Excellent

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