Superior Corporation reported taxable income of $1,000,000 in year 1.Superior paid a dividend of $100,000 to its sole shareholder, Mary Yooper.The dividend meets the requirements to be a "qualified dividend" and Mary is subject to a tax rate of 15 percent on the dividend.What is the total federal income tax imposed on the corporate income earned by Superior and distributed to Mary as a dividend?

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The Answer of Superior Corporation reported taxable income of $1,000,000 in year 1.Superior paid a dividend of $100,000 to its sole shareholder, Mary Yooper.The dividend meets the requirements to be a "qualified dividend" and Mary is subject to a tax rate of 15 percent on the dividend.What is the total federal income tax imposed on the corporate income earned by Superior and distributed to Mary as a dividend?

Superior Corporation Reported Taxable Income of $1,000,000 in Year 1