Santana Corporation Operates a Golf Shop

question 31

Multiple Choice

Santana Corporation operates a golf shop.It properly elected Subchapter S status on March 1 of the current year.Taxable income for the current year is $120,000.What is Santana Corporation's income tax liability?

• A)$- 0 -
• B)$3,000
• C)$18,000
• D)$30,050
• E)$40,800

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