Inc. & Dividends ?

Hi there !

I do need clarification about one simple fact.

Example:
US based Inc. generates 100k annual profit
Corporate Tax on FED+State based on the 100k annual profit: ~30k

The Inc. decides to pay Dividends.
Can the company only pay out Dividends AFTER the taxes have been deducted from the profit ?
In that case, it would mean, the Inc. can only pay a maximum from 70k on Dividends since 30k are gone on FED+State taxes ?

OR... does it mean...

The Inc. could pay 100k on Dividends. The Inc. would NOT HAVE ANY PROFIT.
Therefore, the Inc. would NOT pay any FED and State taxes ?

And only the Shareholder who receives the 100k Dividends will be taxed ?


Thank you very much for any little help,
appreciate it !