SFS Inc. has $100,000 in net income from business operations this tax year. SFS also receives $60,000

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SFS Inc. has $100,000 in net income from business operations this tax year. SFS also receives $60,000 in dividends from the 20%-owned HVR Inc. and $40,000 in dividends from the 15%owned HVG Inc. Both HVR and HVG are domestic corporations.

Requirement:

What is the dividends received deduction (DRD) before applying any taxable income limitations for SFS Inc.?

Related Book For answer-question

Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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Posted Date: Feb 01, 2024 02:53 AM

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SFS Inc. has $100,000 in net income from business operations this tax year. SFS also receives $60,000

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Expert Answer:

The Dividends Received Deduction DRD allows corporations to exclude a portion of the dividends they ... View the full answer

Canadian Income Taxation Planning And Decision Making

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