What is the minimum tax

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Reference no: EM133019010

Question - Falcon Ltd. received the following dividends during the year for its December 31, 2020 taxation year:

Non-eligible dividend from a corporation A which Falcon Ltd has a 5% interest - $150,000

Non-eligible dividend from a wholly owned subsidiary corporation B - $90,000

Non-eligible dividend from a wholly owned subsidiary corporation C - $60,000

Further Information - Corporation B received a $20,000 dividend refund from its non-eligible RDTOH as a result of paying the above dividend.

Corporation C received no dividend refund as a result of paying the above dividend.

What is the minimum Part IV tax (non-eligible) which Falcon Ltd will have to report for December 31, 2020? Show your work.

Reference no: EM133019010

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