How much us tax does new tech owe on the subsidiarys income, Financial Management

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How much us tax does new tech owe on the subsidiarys income

New Tech, Inc. has a solely owned subsidiary in Belgium. In the current year the subsidiary had taxable income of $100 million and remitted $30 million to New Tech in the form of a dividend. New Tech has a marginal U.S. tax rate of 35 percent. How much U.S. tax does New Tech owe on the subsidiary’s income? Assume that the subsidiary has no Subpart F income.

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Financial Management: How much us tax does new tech owe on the subsidiarys income

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