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Question - David would like to organize his business as either an S corporation or as a C corporation, generating a 12% annual before-tax return on a $300,000 investment. David's marginal tax rate is 24% and the corporate tax rate is 21%. David's marginal tax rate on individual capital gains and dividends is 15%. The business will pay out its after-tax earnings every year to its shareholders. If the business is taxed as an S corporation, David's business income allocation would be subject to a 3.8% net investment income tax (he is a passive investor in the business) and the business income allocation would qualify for the deduction for qualified business income.
a. How much would David keep after taxes if his business is organized as an S corporation?
b. How much would David keep after taxes if his business is organized as a C corporation?
c. What is the overall tax rate (combined owner and entity level) if his business is organized as an S corporation?
d. What is the overall tax rate (combined owner and entity level) if his business is organized as a C corporation?
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