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What is the total tax that will be paid

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Question - A single individual has formed a partnership, which is not a qualified business, in which the individual owns 33.33%. The first year of the partnership, it earns gross income of $150,000 for the tax year of 2018. What is the total tax that will be paid by the individual this year if the individual's marginal tax rate is 12% and the corporate marginal rate is 21%?

Reference no: EM132470741

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