Multiple Choice
Corporation A owns 15 percent of the stock of corporation B. Corporation B pays corporation A $100,000 in dividends in 2002. Corporation A must pay tax on ________.
A) $100,000 of ordinary income
B) $ 30,000 of ordinary income
C) $ 70,000 of ordinary income
D) $ 70,000 of capital gain
Correct Answer:
Verified
Correct Answer:
Verified
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