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Charleston Corporation (CC) now operates as a "regular" corporation,but it is considering a switch to S Corporation status.CC is owned by 100 stockholders who each hold 1% of the stock,and each faces a personal tax rate of 35%.The firm earns $2,800,000 per year before taxes,and since it has no need for retained earnings,it pays out all of its earnings as dividends.Assume that the corporate tax rate is 34% and the personal tax rate is 35%.How much more (or less) spendable income would each stockholder have if the firm elected S Corporation status?
Tardive Dyskinesia
A neurological syndrome characterized by repetitive, involuntary movements, often as a side effect of long-term use of antipsychotic medications.
Antianxiety Drugs
Medications designed to reduce symptoms of anxiety, often acting on the central nervous system to promote relaxation or reduce nervous tension.
Xanax
A prescription medication, generically known as alprazolam, used to treat anxiety and panic disorders.
Ativan
A medication primarily used to treat anxiety disorders, known generically as lorazepam.
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