This year Napa Corporation received the following dividends KLP Inc
This year, Napa Corporation received the following dividends:
KLP Inc. (a taxable Delaware corporation in
which Napa holds an 8% stock interest) ……………… $ 55,000
Gamma Inc. (a taxable Florida corporation in
which Napa holds a 90% stock interest) ………………. 120,000
Napa and Gamma do not file a consolidated tax return. Compute Napa’s dividends-received deduction.
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