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25 January, 04:12

John owns 500 shares of stock in Catawba Box, Inc. The company has recently announced the results for the quarter. The company earned a significant profit. Based on the form of ownership, the profit the company earns

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  1. 25 January, 05:39
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    Based on the form of ownership John will receive dividend from the company. Also the company and John have to pay taxes separately because according to companies ordinance company is a separate legal entity. So company will pay tax on its profit and the owner (John) will pay tax on the dividend he will receive.
  2. 25 January, 06:27
    0
    Bsed on the form of ownership, the profit the company earns may be subject to double taxation. Double taxation is when a person or company is subject to having double income taxes charge on the same earned income. When this happens, taxes happen at both the corporate level and personal level.
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