Assume that Clampett, Inc., has $390,000 of sales, $340,000 of cost of goods sold, $250,000 of interest income, and $230,000 of dividends. What is Clampett, Inc.'s excess net passive income

Clampett, Inc.'s excess net passive income is $262,500.

Explanation:

First we need to calculate the Gross Receipt

Gross Receipt

Sales                  $390,000

Interest Income $250,000

Dividend            $230,000

Gross receipts  $870,000

25% of Gross receipt = $870,000 x 25% = $217,500

Now Calculate the passive income

Interest Income $250,000

Dividend            $230,000

Passive Income $480,000

Now calculate the excess passive income

Excess passive income = Passive income - 25% of gross receipt

Excess passive income = $480,000 - $217,500 = $262,500

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