Reference no: EM131959382
Jay owns 100% of Kaye Company. In 2011, Kaye Company recognizes a long-term capital gain (LTCG) of $100,000. Kaye Company has no other income or loss. Assume that Jay (an individual) is in the 39.6% tax bracket and has no recognized capital gains or losses in 2011.
How much tax will Kaye Company owe on the $100,000 LTCG assuming that Kaye is a corporation?
Jay owns 100% of Kaye Company. In 2011, Kaye Company recognizes a long-term capital gain (LTCG) of $100,000. Kaye Company has no other income or loss. Assume that Jay (an individual) is in the 39.6% tax bracket and has no recognized capital gains or losses in 2011.
How much tax will Kaye Company owe on the $100,000 LTCG if Kaye Company is a sole proprietorship?
Jay owns 100% of Kaye Company. Jay (an individual) is in the 39.6% tax bracket. Assume that Kaye Company is a corporation and distributes $50,000 cash to Jay as a dividend.
How much tax must Jay pay on this $50,000 dividend?
Jay owns 100% of Kaye Company. Jay (an individual) is in the 39.6% tax bracket. Assume that Kaye Company is a sole proprietorship and distributes $50,000 of cash to Jay.
How much tax must Jay pay on this $50,000 distribution?
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