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jafarmer61
Level 1

Is there a way of calculating Corporation Tax liability on Quickbooks where Dividend payments are made.

 
Solved
Best answer January 17, 2023

Accepted Solutions
emmam6
Moderator

Is there a way of calculating Corporation Tax liability on Quickbooks where Dividend payments are made.

Hello Community Users, When dealing with corporation tax and dividends we'd recommend confirming with an accountant how best to calculate this.

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2 REPLIES 2
Rustler
Level 15

Is there a way of calculating Corporation Tax liability on Quickbooks where Dividend payments are made.

A corporation pays income taxes on earnings, total earnings

 

then if a dividend is declared, that amount is paid per share to the stockholders.  The stockholders will report those dividends and pay income taxes on them - but the corporation does not incur any income taxes on the payment.  The payment is from earnings which is being taxed at the corporate level.

 

The final word on this should come from your tax accountant

emmam6
Moderator

Is there a way of calculating Corporation Tax liability on Quickbooks where Dividend payments are made.

Hello Community Users, When dealing with corporation tax and dividends we'd recommend confirming with an accountant how best to calculate this.

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