Receives a dividend-dividend taxed

Assignment Help Financial Accounting

Reference no: EM13793787

Regina receives a dividend of $150 from a corporation in Country Y that has only done business in Country Y in the past. Country Y imposed a $45 (30%) tax on the $150 dividend. How is the $150 dividend taxed (generally, no computations required) in each of the following situations: (total 10 pts)

a. Regina is a US citizen residing in the US.

b. Regina is a US citizen who has been residing in Country Y for the last 15 years.

c. Regina is a citizen of Country Y and has never visited the US nor conducted any business in the US.

Reference no: EM13793787

Questions Cloud

Requirements of human service workers : Review your state's law or administrative rule regarding informed consent and the requirements of human service workers.

Adjournment of the legislature : 1. How long does the governor have following the adjournment of the legislature in which to act on bills?

What factors arise in considering if a minority investor : Joe Brock owns 10,000 of the 60,000 outstanding shares of Big Corporation; Leslie Ross own 20,000 shares; Mark Jones and his twin brother Sam each own 5,000 shares; and about 300 other shareholders own the remaining 20,000 shares—with no one other sh..

Receives a dividend-dividend taxed : Regina receives a dividend of $150 from a corporation in Country Y that has only done business in Country Y in the past. Country Y imposed a $45 (30%) tax on the $150 dividend. How is the $150 dividend taxed (generally, no computations required) in e..

Construction of bases for equipment to be installed later : On July 6, Zonker Company acquired the plant assets of Doonesbury Company, which had discontinued operations. Zonker Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. On Decem..

Determine the amount to be reported as the cost of the land : On March 1, 2014, Rollinger Company acquired real estate on which it planned to construct a small office building. The company paid $78,950 in cash. An old warehouse on the property was razed at a cost of $9,190; the salvaged materials were sold for ..

What would the journal entry to record reissuance include : Treasury stock that had been purchased for $4,874 last month was reissued this month for $5,909. What would the journal entry to record the reissuance include?

User Account

All Pages