For the current year, Maple Corporation, a C corporation,reports taxable income of $252,000 before paying salary to its soleshareholder, Diane. Diane’s marginal tax rate on ordinary income is35.9 percent (including the additional Medicare tax) and 18.8percent on dividend income (including the 3.8% net investmentincome tax). If Maple pays Diane a salary of $198,000 but the IRSdetermines that Diane’s salary in excess of $150,000 isunreasonable compensation, what is the amount of the overall tax(corporate level + shareholder level) on Maple’s $252,000pre-salary income? Assume Maple’s tax rate is 35 percent and itdistributes all after-tax earnings to Diane. (Round yourintermediate calculations and final answers to the nearest wholedollar amount.)
https://papertowriters.com/wp-content/uploads/2020/07/Writerspng-300x62.png 0 0 admin https://papertowriters.com/wp-content/uploads/2020/07/Writerspng-300x62.png admin2021-11-11 05:29:382021-11-11 05:29:38For the current year, Maple Corporation, a C corporation,reports taxable income of $252,000 before..