Insomniac records is a record label specializing in underground music artists. Each year, Insomniac records total earnings
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Insomniac records is a record label specializing in underground music artists. Each year, Insomniac records total earnings are taxed at the current corporate tax rate, and then taxed as personal income on the part of the labels employees and investors when they receive dividends and gains based upon their ownership interest in the company. How would Insomniac records as a business entity be described for tax purposes?
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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