Question - Rendevous Corporation is classified as a personal holding company for its 2016 calendar tax year, reporting $263,000 of taxable income based on the following information
Gross Profits $150,000
Long-term capital gain $20,000
Short-term capital gain $20,000
Dividends received from 25% owned domestic corp $200,000
Interest Income $150,000
General and admin expenses $40,000
Salary expenses $30,000
Charitable contributions $75,000
Compute Renveous Corporation's regular tax liability on its 2016 taxable income and its personal holding company tax liability for the year.