Which of the following statements with respect to Part IV tax is correct?
A) Only CCPCs are required to pay Part IV tax.
B) The refundable portion of Part IV tax is equal to 26-2/3 percent of aggregate invest- ment income.
C) The Part IV tax is assessed on all dividends received from connected companies.
D) The Part IV tax is assessed on all portfolio dividends.
RDTOH
Correct Answer:
Verified
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