The Vista Mar Corporation generated a net taxable income of $ 1,000,000 for 2020. Assume...
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Accounting
The Vista Mar Corporation generated a net taxable income of $ 1,000,000 for 2020. Assume the corporation is subject to an income tax rate of 20%. After tax payment, the remainder is distributed in its entirety to its shareholders as dividends. Shareholders pay dividends at a preferential rate of 15%.
Determine how much tax shareholders will pay on distributed dividends. Present your computations.
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