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Business, 03.07.2019 14:50 SoccerHalo

What is the amount of the overall tax (corporate level + shareholder level) on the $590.000 of pre-interest expense earnings if hazel, nutt's sole shareholder lends nutt corporation $61.500 at the beginning of the year, nutt pays hazel $7200 of interest on the loan ( interest is considered to be reasonable), and nutt distributes all of its after-tax earnings to hazel (ignore the net investment income tax)? assume hazel's ordinary marginal tax rate 35 percent and her dividend tax rate is 15 percent

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