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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 25%.Due to the corporation's results and the distribution paid,the IRS will receive total taxes of
Corporate Officers
High-ranking executives who are charged with managing the operations and ensuring the compliance of a corporation.
Day-to-Day Operations
The regular, routine activities necessary for an organization or business to function effectively on a daily basis.
Corporation
A legal entity created under state law, recognized as separate from its owners, with its own rights, privileges, and liabilities.
Alien Corporation
A corporation formed in another country but doing business in the United States.
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