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cricket20 [7]
2 years ago
5

When an employee/shareholder receives a business incoLogan, a 50-percent shareholder in Military Gear Incorporated (MG), is comp

aring the tax consequences of losses from C corporations with losses from S corporations. Assume MG has a $111,000 tax loss for the year, Logan's tax basis in his MG stock was $155,500 at the beginning of the year, and he received $80,500 ordinary income from other sources during the year. Assuming Logan's marginal tax rate is 24 percent, how much more tax will Logan pay currently if MG is a C corporation compte allocation from an S corporation, what taxes apply to the business income allocation
Business
1 answer:
Delicious77 [7]2 years ago
5 0

Answer:

$1346.78688588627862

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