Artco Inc Is a C Corporation

question 1911

Multiple Choice

Artco Inc. is a C corporation. This year it earned $50,000 of taxable income and paid a $10,000 distribution (dividend) to Lily, its sole shareholder. Lily has a marginal tax rate of 24%. Due to the corporation's results and the distribution paid, the IRS will receive total taxes of

• A) $10,500.
• B) $12,000.
• C) $13,500.
• D) $12,900.

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Definitions:

Status-role Complex

A concept in sociology that describes how an individual's social position (status) entails certain behaviors, expectations, and responsibilities (roles).

Interaction

The exchange or influence between two or more individuals, groups, or systems within a social context.

Talcott Parsons

An American sociologist known for developing a general theoretical framework for the social sciences and for his theories concerning social action, the system, and functionalism.

Robert Merton

An American sociologist known for his theories of social structure, anomie, and for developing the concept of self-fulfilling prophecy.