Corporations are taxed on the income they earn, and shareholders are taxed on the dividends they receive. What provisions in the tax law reduce this "double tax burden? (Assume the year is 2018.) O A. Dividends received by individuals are taxed at lower rates than other income. There is no tax on dividends received by individuals in the 10% tax bracket. Dividends received by individuals in the 12% through 35% brackets are taxed at 15% while individuals in treated t the 37% tax bracket are taxed at 20%. In addition, eligible corporations can elect to be ed much like p ce partnerships. The income of these so-called "S corporations" is reported by shareholders, and is not taxed to the corporation. In addition, corporations receiving dividends from other corporations are eligible to claim a dividend-received deduction that varies between 50% and 100% of the dividends received depending on the percentage of stock owned. OB. There are no provisions in the tax law to reduce the "double tax burden. Shareholders are taxed as ordinary income and the corporation does not receive a tax deduction for the payments. OC. Dividends received by individuals are taxed at lower rates than other income. There is no tax on dividends received by individuals in the 10% through 35 % tax brackets. Dividends received by individuals in the 37% tax bracket are taxed at 15%. In addition eligible corporations can elect to be treated much like partnerships. The income of these so-called "S corporations" is reported by shareholders, and is not taxed to the corporation. In addition, corporations receiving dividends from other corporations are eligible to claim a dividend-received deduction that varies between 25% and 100% of the dividends received depending on the percentage of stock owned. O D. Dividends received by individuals are taxed at lower rates than other income. There is no tax on dividends received by individuals in the 10% and 12% tax brackets. Dividends received by individuals in the 22% through 35% brackets are taxed at 15% while individuals in the 37% tax bracket are taxed at 20%. In addition, eligible corporations can elect to be treated much like partnerships. The income of these so-called "S corporations" is reported by shareholders, and is not taxed to the corporation. In addition, corporations receiving dividends from other corporations are eligible to claim a dividend-received deduction that varies between 50% and 100% of the dividends received depending on the percentage of stock owned.

Why would a corporation purchase the stock of another corporation?     a. To prevent double taxation of its shareholders     b. Because dividends received by a corporation are partially tax-exempt     c. It is equivalent to a tax carried forward     d. It is equivalent to a tax carried back

Green Corporation is required to change its method of accounting for federal income tax purposes. The change will require an adjustment to income to be made over three tax periods. Joe, the sole shareholder of Green, wants to better understand the implications of this adjustment for E&P purposes, because he anticipates a distribution from Green in the current year. Explain to Joe the impact of the adjustment on E&P.

All resident corporations (except tax-exempt Crown corporations and registered charities) have to file a corporation income tax (T2) return every tax year even if there is no tax payable. True False

Is it possible for shareholders to defer or avoid the second level of tax on corporate income altogether? Briefly explain.

This answer is wrong . please give me the right answer.

Which of the following accurately describes the tax implications of C corporations and their shareholders? a) Pass-through taxation b) Double taxation c) Tax-exempt status d) Reduced capital gains tax rate

In each of the following cases, compute the corporation's regular tax, average tax rate and marginal tax rate: Use 2017 tax rate schedule if needed. Required: a. Silva Corporation has $168,000 taxable income for its tax year ended December 31, 2017. b. Goyal Corporation has $168,000 taxable income for its tax year ended December 31, 2018. c. Carver Corporation has $168,000 taxable income for its tax year ended October 31, 2018. Note: For all requirements, Do not round intermediate calculations. Round your final answer to nearest whole dollar amount and average tax rate answer to 2 decimal places. a. b. C. Corporation's Regular Tax $ LA LA X Answer is complete but not entirely correct. Corporation's Marginal Tax Rate 39 % 21 % 37 X % $ $ 48,770 35,280 168,000 X Corporation's Average Tax Rate 35.00 21.00 0.00 % % %

1)During the year, CDE Corporation earned enough profits to pay dividends to its shareholders. CDE is a C corporation. What are the tax consequences of this distribution?    The corporation will increase their earnings and profits by the amount distributed.  The corporation will reduce its taxable income by the amount distributed to the shareholders.  The corporation will pay a flat tax of 21% on the amount distributed. The shareholders also include their dividends received in taxable income.  There are no direct tax consequences for either the corporation or the shareholders.   20 Choose the response that correctly describes a guaranteed payment.    A loan payment from the partnership to pay back a loan from a partner.  A loan payment from the partner to pay back a loan from a partnership.  A payment made to a partner from the profits of the partnership.  A payment made to a partner without regard to the income of the partnership.   3)Which of the following expenses may a partnership…

Shareholders in a corporation are obligated to pay income tax twice on one stream of income in a process called double taxation. Other than personal income taxes, which type of tax must shareholders pay?   a) Self Employment Tax   b) Corporate Dividend Tax   c) Federal Income Tax   d) Capital Gains Tax