It is 2018. The company you founded called Mineral Gells had earnings before tax of...
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Accounting
It is 2018. The company you founded called Mineral Gells had earnings before tax of $100,000,000 this year (congratulations!). You are the companys sole owner. The corporate tax rate is 21%, you are in the 37% marginal bracket, and your dividends are taxed at 20%.
Mineral Gells is a C-corporation and pays out 50% of its income in the form of dividends. How much do you personally have to pay in taxes, and what is your after-tax dividend?
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