Multiple Choice
Silver Inc.is an S corporation.This year it earned $60,000 of taxable income and paid a $10,000 distribution to Daisy,its sole shareholder.Daisy has a marginal tax rate of 24%.Due to the corporation's results and the distribution paid,the IRS will receive total taxes of
A) $12,600.
B) $14,400.
C) $14,100.
D) $11,520.
Correct Answer:
Verified
Correct Answer:
Verified
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