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Identify which of the following statements is

/in /by

Identify which of the following statements is

true.

A.

A corporation can be subject to both the accumulated earnings tax and the personal holding company tax in the same year.

B.

The accumulated earnings tax is applied to a​ corporation’s earnings. If the earnings are not subsequently​ distributed, the earnings will be taxed again under the accumulated earnings tax the next year.

C.

The accumulated earnings tax is not levied on the​ corporation’s total accumulated earnings​ balance, but only on its​ current-year addition to the balance.

D.

All of the above are false.

 
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