Raptor Corporation is a PHC for 2019 and reports $200,000 of taxable income on its federal income tax return.
Operating profit $100,000
Long-term capital gain 80,000
Dividends (20%-owned corporation) 90,000
Interest 100,000
Gross income 370,000
Salaries expense (50,000)
General and administrative expense (25,000)
Dividends-received deduction (72,000)
Taxable income $223,000
Regular tax liability $ 46,830
What is Raptor's PHC tax, assuming that it does not pay any dividends?

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The Answer of Raptor Corporation is a PHC for 2019 and reports $200,000 of taxable income on its federal income tax return.
Operating profit $100,000
Long-term capital gain 80,000
Dividends (20%-owned corporation) 90,000
Interest 100,000
Gross income 370,000
Salaries expense (50,000)
General and administrative expense (25,000)
Dividends-received deduction (72,000)
Taxable income $223,000
Regular tax liability $ 46,830
What is Raptor's PHC tax, assuming that it does not pay any dividends?

Raptor Corporation Is a PHC for 2019 and Reports $200,000