Purple Corporation, a personal service corporation (PSC), adopted a fiscal year ending September 30th.The sole shareholder of the corporation is a calendar year taxpayer.During the fiscal year ending September 30, 2012, the shareholder-employee received $120,000 salary.The corporation paid the shareholder-employee a salary of $15,000 during the period beginning October 1, 2012 through December 31, 2012.

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The Answer of Purple Corporation, a personal service corporation (PSC), adopted a fiscal year ending September 30th.The sole shareholder of the corporation is a calendar year taxpayer.During the fiscal year ending September 30, 2012, the shareholder-employee received $120,000 salary.The corporation paid the shareholder-employee a salary of $15,000 during the period beginning October 1, 2012 through December 31, 2012.

Purple Corporation, a Personal Service Corporation (PSC), Adopted a Fiscal