Deeana, Henry, and Pat have equal ownership of My Business LLC which made a profit of $90,000 this year. Deeana and Henry have a 28% tax rate and Pat has a 15% rate. The company has a 20% tax rate. How much total taxes will be paid on Pat's portion of the profit?

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter1: Federal Income Taxation—an Overview
Section: Chapter Questions
Problem 44P
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Deeana, Henry, and Pat have equal ownership of My Business LLC which made a profit of $90,000 this year. Deeana and Henry have a 28% tax rate and Pat has a 15% rate. The company has a 20% tax rate. How much total taxes will be paid on Pat's portion of the profit?

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