Business, 25.02.2020 19:50 jruiz33106
Naveen Gupta is the sole shareholder and employee of Opal Corporation, a calendar year C corporation that is engaged exclusively in engineering services. During the year, Opal has gross revenues of $420,000 and operating expenses (excluding salary) of $200,000. Further, Opal Corporation pays Naveen a salary of $190,000, which is considered reasonable in amount. Assuming that Opal Corporation distributes all after-tax income as dividends, how much Federal income tax does Opal pay in the current year?
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Naveen Gupta is the sole shareholder and employee of Opal Corporation, a calendar year C corporation...
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