Gopher Corporation reported taxable income of $500,000 this year Gopher paid a dividend of $100,000 to its sole shareholder, Sven Anderson Gopher Corporation is subject to a flat rate tax of 34 The dividend meets the requirements to be a qualified dividend and Sven is subject to a tax rate of 15 on...

Gopher Corporation reported taxable income of $500,000 this year. Gopher paid a dividend of $100,000 to its

Question:

Gopher reported taxable income of $500,000 this year. Gopher paid a of $100,000 to its sole shareholder, Sven Anderson. Gopher is subject to a flat rate tax of 34%. The meets the requirements to be a qualified and Sven is subject to a tax rate of 15% on the What is the income tax imposed on the corporate income earned by Gopher and the income tax on the distributed to Sven?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...