Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. it is 2018. the company you founded called mineral

It is 2018. The company you founded called Mineral Gells had earnings before tax of...

90.2K

Verified Solution

Question

Accounting

It is 2018. The company you founded called Mineral Gells had earnings before tax of $100,000,000 this year (congratulations!). You are the companys sole owner. The corporate tax rate is 21%, you are in the 37% marginal bracket, and your dividends are taxed at 20%.

Mineral Gells is a C-corporation and pays out 50% of its income in the form of dividends. How much do you personally have to pay in taxes, and what is your after-tax dividend?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

TIME REMAINI 01 59 01 A hunter illegally kills a wolf in Yellowstone National Park...

Biology
Q

(a) An angle measures 51. What is the measure of its supplement?(b) An angle measures...

Geometry
Q

1. List the stages of development that occur (in order) from ovulation to implantation 2. What is...

Medical Sciences
Q

Derive the expressions for maximum rate of climb, (?? ?? ? )?????? and the velocity at...

Mechanical Engineering
Q

Effective leaders are pillars of success for an organization and a nation. From your personal experience...

General Management
Q

Please move the correct terms into their corresponding empty boxes within the figure to complete...

Biology
Q

Identify given logical equivalences 1 p q PV q 2 pvq Vr pV qVr 3...

Basic Math
Q

Answer parts 4 and 5 please. Chrystal Corporation uses the indirect method to...

Accounting
Q

Ajax Computer Company is an accrual method calendar year taxpayer. Ajax has never advertised in...

Accounting
Q

EXAMPLE 1 (Change in accounting policy) The following information is an extract from the trial...

Accounting
Q

Cane Company manufactures two products called Alpha and Beta that sell for $150 and $105,...

Accounting
Q

A project manager is managing his second project. It started one month after the first...

Finance