Assume that Clampett, Inc. has $200,000 of sales, $150,000 of cost of goods sold, $60,000 of interest income, and $40,000 of dividends. Assume that Clampett, Inc. never operated as a C corporation and that the corporate tax rate is 21%. What is Clampett, Inc.'s excess net passive income tax?

Question

Quizplus · Accepted Answer

Clampett, Inc. is not subject to the excess net passive income tax because it never operated as a C corporation.

Assume That Clampett, Inc