In ABC, Inc., a C-Corporation, earned $600,000 of gross income and incurred $450,000 of deductions in 2020. ABC, Inc. is 100% owned by Sarah. Sarah's individual marginal tax rate is 24%. What is the tax liability of ABC, Inc.? In ABC, Inc., a S-Corporation, earned $600,000 of gross income and incurred $450,000 of deductions in 2020. ABC, Inc. is 100% owned by Sarah. Sarah's individual marginal tax rate is 24%. What is the tax liability of ABC, Inc.?

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1 C corporation taxed at two levels first at the companys han... View the full answer