Assume Better Brakes makes $10,000 in profits the first year, and those profits are equally distributed as dividends to Tommy and Richard. How will those profits be taxed? Assume Better Brakes makes $10,000 in profits the first year, and those profits are equally distributed as dividends to Tommy and Richard. How will those profits be taxed?

Answer rating: 100% (QA)

The taxation of profits distributed as dividends depends on several factors including the tax laws and regulations in the jurisdiction where Better Br... View the full answer