Which of the following statements is most correct?
A) Corporations are allowed to exclude 70 percent of their interest income from corporate taxes.
B) Corporations are allowed to exclude 70 percent of their dividend income from corporate taxes.
C) Individuals pay taxes on only 30 percent of the income realized from municipal bonds.
D) Answers a and b are correct.
E) None of the answers above is correct.

Question

Quizplus · Accepted Answer

Corporations can exclude 70 percent of their dividend income from corporate taxes, which is a tax benefit to avoid triple taxation of dividends.

Which of the Following Statements Is Most Correct