On purchases 100% of Sun Corporation stock for $30,000. Sun Rae of the sale? January Corporation reports taxable income of $25,000 in the current of the year, on which it pays tax of $3,750. None of the remaining current $21,250 is distributed to Rae. However, on January 1 of the next year Rae year Rae sells her stock to Lee for $51,250. What are the tax to
On January of the current year Rae purchases 100% of Sun Corporation stock for $30,000. Sun Corporation reports taxable income of $25,000 in the current year, on which it pays tax of $3,750. None of the remaining $21,250 is distributed to Rae. However, on January 1 of the next year Rae sells her stock to Lee for $51,250. What are the tax to Rae of the sale?