a business generates profit of $100,000. the owner has a 37% marginal tax rate. what amount of corporate and individual income tax will be paid on this profit if the business is a regular corporation and no income is distributed?

Question

26-10-2022
Business

Answered

a business generates profit of $100,000. the owner has a 37% marginal tax rate. what amount of corporate and individual income tax will be paid on this profit if the business is a regular corporation and no income is distributed?

Answer :

Other Questions

in a common-sized income statement, which of the following is given a percentage of 100%? a.total liabilities b.sales c.net income d.property, plant, and equipm

under which model of oligopoly are firms more likely to set prices above marginal cost and earn profit?

The video explains the military origins of the term strategy, but then goes on to explain how Michael Porter closed the gap between military and business thinki

one of the main disadvantages of the corporate form is a.double taxation. b.the charter. c.that a corporation must issue stock. d.professional management.

When a tax is levied on a good, the buyers and sellers of the good share the burden,a. provided the tax is levied on the sellers b. provided the tax is levied o

n information systems plan shows how specific information systems fit into a company's overall business plan and business strategy. group of answer choices true

because gopher excavators is a , the marginal revenue product of labor can also be called the .

the right of the government to property that is left by a decedent who has no heirs and no will is called what?

Seth is considering advertising his business using paid search results. What do you think makes paid search advertising so effective as a marketing method?.

as bret prepares to open his new business, he has identified the tasks that need to be accomplished, and has assigned employees to each task. this illustrates a

qwlavender qwlavender · Answer 1 · 2022-10-30T06:45:26-04:00

If the company is a standard corporation and no revenue is distributed, corporate income tax on the earnings will be $21,000 and personal income tax will be $0.

A corporate tax is a tax on a corporation's profits. Taxes are paid on a company's taxable income, which consists of revenue less cost of goods sold, general and administrative costs, sales and marketing, R&D, depreciation, and other operational costs.

An individual or family must pay an income tax on any earnings, salaries, investments, or other sources of income.

Given data:

Profit = $100,000

Marginal tax rate = 37%

100000 ÷ x = 100% ÷ 21%

x ÷ 100000 = 21 ÷ 100

x = 21,000

On a $100,000 profit, the corporation pays $21,000 in tax at a rate of 21%. There is no individual tax because the firm doesn't distribute any dividends.

To learn more about income tax

https://brainly.com/question/17075354

#SPJ4