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Business, 13.11.2021 21:50 jaxheisjax532

Orange, Inc., a C Corporation for federal tax purposes, owns 82% of Citrus Corporation common stock, a C Corporation for federal tax purposes. This year, Orange generated $300,000 operating income (not including dividends). It also received $60,000 dividends from Citrus Corporation. Orange's taxable income is:

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Orange, Inc., a C Corporation for federal tax purposes, owns 82% of Citrus Corporation common stock,...
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