A limited liability company's profits are “passed through” to its members.  Those members pay Group of answer choices only personal income taxes. only business income taxes. no income taxes. both personal and business income taxes.

AJ Company pays a business income tax and has two owners. h. Jeffy Auto is a separate legal entity from its owner, but it does not pay a business income tax."

The following describe several different business organizations. Determine whether each description bestrefers to a sole proprietorship (SP), partnership (P), corporation (C), or limited liability company (LLC). Physio Products does not pay income taxes and has one owner. The owner has unlimited liability for business debt.

Corporations are required to pay taxes on O A. income from the business O B. operating expenses C. employee bonuses O D. start-up costs

Which of the following are correct statements concerning corporate dividends?   a. Dividends are legal liability of a corporation to its shareholders   b. Dividends paid by a corporation to another corporation receive preferential tax treatment (minimum 70% exclusion from taxable income)   c. Dividends are generally paid to the shareholders before the payment of interests to the bondholders   d. Dividends payments are considered tax deductible expense while interest payments are not

Credits are more valuable than deductions to a corporation because O only 50% of all deductions may be subtracted. deductions only apply to interest received on a municipal bond. O deductions are subtracted from income tax expense. credits are subtracted after the income tax expense has been computed. O credits are more valuable because they are the expenses of operating a business.

What is bought and sold in the equities market? What’s the difference between an LLC and a standard limited liability corporation (aka, a “C” corporation in IRS parlance)? Explain what is meant by “the corporate veil” and “piercing the corporate veil”? What is an insurance reserve AND is it an asset or a liability on the insurer’s financial statements? What’s the difference between a profit statement and a net worth statement? How does an insurer make a profit in each of these three categories? Underwriting Profit Investment Profit Operations Profit Explain why the twin financial mandates of solvency and profitability create a conflict for an insurer.

B1.

Shareholders in a corporation are obligated to pay income tax twice on one stream of income in a process called double taxation. Other than personal income taxes, which type of tax must shareholders pay?   a) Self Employment Tax   b) Corporate Dividend Tax   c) Federal Income Tax   d) Capital Gains Tax

Give typed full explanation