Series 79: Double Taxation

Taken from our FINRA Investment Banking Exam

Definition of the term Double Taxation...

when a corporation pays taxes on its net profit and pays dividends to its shareholders (the company owners). The shareholders then have to report the dividends as income on their tax returns and pay personal income taxes on the dividend income. This double taxation does not occur when a corporation chooses not to distribute any profits to its shareholders.

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Solomon's Series 79 materials are clear and concise. They were recommended to me over other prep material companies. Above all, the full exam simulator was essential in gaining familiarity, comfort and speed on exam day. I felt prepared and passed the exam the first time around.

Carlos Medina, New Century Capital Partners, Inc., Charlotte,NC

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