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Patrick,an Attorney,is the Sole Shareholder of Gander Corporation

Question 71

Multiple Choice

Patrick,an attorney,is the sole shareholder of Gander Corporation.Gander is a personal service corporation with a fiscal year ending September 30.The corporation paid Patrick a salary of $294,000 during its fiscal year ending September 30,2010.How much salary must Gander pay Patrick during the period October 1 through December 31,2010,to permit the corporation to continue to use its fiscal year without negative tax effects?


A) $0.
B) $73,500.
C) $220,500.
D) $294,000.
E) None of the above.

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