Reference no: EM131211232
A business generates profits of $150,000. The owner currently has a 28% MTR. What is the total amount of taxes paid if the business is a regular corporation and $20,000 in dividends is distributed to its sold individual shareholder?( The dividend tax rate on this individual shareholder is 15%)
A. Corporate tax, $33,950; individual tax, $5,600.
B. Corporate tax, $41,750; individual tax, $5,600.
C. Corporate tax, $41,250; individual tax, $3,000.
D. Corporate tax, $0; individual tax, $42,000.
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