The intra corporation earned $3 million plus received $200,000 in preferred dividends. the corporation is in the 30% tax bracket. taxes on its entire amount of taxable income would be: (a) $900,000(b) $918,000(c) $930,000(d) $960,000
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Ответ:
tax liability amount is $918000
so option B is correct
Explanation:
given data
earn = $3000000
dividends = $200000
tax rate = 30%
to find out
tax liability amount
solution
we have $200000 dividend income
so taxable dividend income is 30%
so taxable dividend income = 0.30 × 200000
taxable dividend income = $60000
so total taxable income is = $3000000 + $60000
total taxable income = $3060000
and
tax liability is 30% of $3060000
tax liability amount = 0.30× 3060000
tax liability amount is $918000
so option B is correct
Ответ: