Larry and Laureen Own LL Legal Services Corporation Equally

question 37

Multiple Choice

Larry and Laureen own LL Legal Services Corporation equally.The two owners are practicing attorneys employed by the corporation.The only business activity of the entity is the provision of legal services.During the current tax year,the corporation's taxable income is $100,000.What is the corporation's income tax liability?

• A)$22,250
• B)$34,000
• C)$35,000
• D)$26,150

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