Sunchaser Shakery, an S corporation, is liable for the tax on its excess net passive income...
Sunchaser Shakery, an S corporation, is liable for the tax on its excess net passive income for 2017 of $10,000. What is the amount of the tax?
Homework Answers
excess net passive income for 2017 of $10,000
Tax is 35% of excess net passive income
Hence, amount of tax = 10,000 x 35%
= $3,500
Kindly comment if you need further assistance. Thanks
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