Answer :
Because Brace Inc. owns more than 80% of the dividend distribution business, the full amount of the dividend that was received may be deducted.
As a result, taxable income is $50,000.
The base income used to calculate taxes is known as taxable income. It may include all or part of the revenue and is lessened by outgoings and other deductions. Depending on the country and its system, different amounts are included as income, expenses, and other deductions.
Generally, anything you receive in exchange for personal services must be included in your gross income. Along with wages, salaries, commissions, fees, and gratuities, this also includes other types of remuneration including stock options and fringe perks.
100% of the dividend received may be deducted because Brace Inc. controls more than 80% of the dividend distribution company.
Consequently, taxable income = Operating revenue = $50,000
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