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vichka [17]
3 years ago
5

Copper Corporation, a calendar year C corporation, owns stock in Bronze Corporation and has net operating income of $900,000 for

the current year. Bronze Corporation pays Copper a dividend of $150,000. What amount of dividends received deduction may Copper claim if it owns 85% of Bronze stock (and the two corporations are members of the same affiliated group)
Business
2 answers:
UNO [17]3 years ago
7 0

Answer: $150,000

Explanation:

The Dividend Received Deduction is a Federal tax deduction that applies when a related company pays dividends to another company that owns part of it.

The relevant provision is that when a company owns more than 80% of the company receiving the Dividend, the Dividend Received Deduction amounts to 100% of dividends received.

Cooper Corporation may therefore claim a deduction of $150,000 being the total amount as they own 85% of Broze Corporation Stock.

Rasek [7]3 years ago
7 0

Answer:

$150,000

Explanation:

From the example given, the dividends deduction sustain rely on the ownership percentage by the corporate shareholder.

Now, if Copper Corporation has 85% of the Bronze Corporation, Copper would be eligible for a deduction of 100%, or in this example $150,000

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