All of the following are true EXCEPT
A. Interest income received by a corporation is taxed as ordinary income.
B. Corporations pay taxes on all dividends received from other corporations, no matter their share of ownership.
C. Corporations may pay taxes on only 30 percent of the dividends received from other corporations, depending on their percentage of ownership.
D. Capital gains is taxed as ordinary income.
Answer:B
All of the following are true EXCEPT
A. Interest income received by a corporation is taxed as ordinary income. B. Corporations pay taxes on all dividends received from other corporations, no matter their share of ownership. C. Corporations may pay taxes on only 30 percent of the dividends received from other corporations, depending on their percentage of ownership. D. Capital gains is taxed as ordinary income.