Solution-What is overall tax rate on crocker and company

What is overall tax rate on crocker and company income

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Question - Crocker and Company (CC) is a C corporation. For the year, CC reported taxable income of $564,500. At the end of the year, CC distributed all its after-tax earnings to Jimmy, the company's sole shareholder. Jimmy's marginal ordinary tax rate is 37 percent and his marginal tax rate on dividends is 23.8 percent, including the net investment income tax. What is the overall tax rate on Crocker and Company's pretax income?

Reference no: EM133047579

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What is overall tax rate on crocker and company income : Crocker and Company (CC) is a C corporation. For the year, CC reported taxable income of $564,500. What is overall tax rate on Crocker and Company income

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What is overall tax rate on crocker and company income

Reference no: EM133047579

Reference no: EM133047579

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