Assume that the corporate tax rate is 40% and the personal tax rate is 10%. If a
Fantastic news! We've Found the answer you've been seeking!
Question:
Assume that the corporate tax rate is 40% and the personal tax rate is 10%. If a corporation generates $200 per share before taxes, gives all of the earnings to shareholders and Adam Smith owns one share. What will be the TOTAL tax Adam Smith pays on the $200 the company generates for him?
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date: