A Corporation Is Subject to Both the Personal Holding Company

question 24

Multiple Choice

A corporation is subject to both the personal holding company tax and the accumulated earnings tax.Its regular taxable income is $200,000.Its adjusted taxable income for imposing the personal holding company tax is $170,000 and its taxable income for determining the accumulated earnings tax is $230,000.What is the corporation's total tax liability?

• A)$73,250
• B)$95,250
• C)$120,250
• D)$141,250

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Definitions:

Labor Relations

The study and practice of managing the relationship between employers and their workforce, particularly with regard to unions and collective bargaining.

Compensation and Benefits

The combination of salary, wages, and other perks or allowances provided to employees in exchange for their work.

Employee Relations

The management of the relationship between employers and employees, focusing on maintaining positive and productive environments.

Employee Assistance Program (EAP)

A work-based intervention program designed to help employees resolve personal problems that may affect their job performance, health, and well-being.