Keith,age 17,is a Dependent of His Parents

question 47

Multiple Choice

Keith,age 17,is a dependent of his parents.During 2014,he received $3,000 of dividend income.The parent's marginal rate is 28% and Keith's rate is 10%.Keith's tax is

• A)$300.
• B)$150.
• C)$280.
• D)None of the above.

---

Definitions:

Low-profit Limited Liability Companies

Business entities that blend nonprofit and for-profit elements, focusing on social goals while being able to generate profit.

Legislation

Laws or statutes enacted by a government's legislative body.

Limited Partnership Agreement

A contract among partners in which some are liable only up to the amount of their investments while others are fully liable.

Limited Partners

Investors in a limited partnership who contribute capital but do not participate in management and whose liability for the partnership's debts is limited to their investment.