SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN: 9780357391266
Author: Nellen
Publisher: Cengage
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Which of these is NOT a tax assessed by the state to earn revenue? A Sales Tax B Excise Tax C Hotel Occupancy Tax D Entertainment Ticket Tax
A. Propose a tax measure in order for the government to eaarn addtional revenue with emphasis ont he following items: 1. Indicate the type of your proposed taxwhat is the name, nature and purpose of the tax?2. what is/are covered transactions and who are the taxpayers? any tax exemption?
Which of the following statements regarding political contributions made by a corporation is CORRECT? a. Political contributions are allowed as a deduction in the computation of taxable income, therefore they are deducted on Schedule 2. b. Corporations receive a tax credit equal to 15% of political contributions made in the year. O c. Political contributions are not allowed as a deduction in the computation of business income, therefore they are added back on Schedule 1. O d. The total deduction for political contributions is limited to 75% of the corporation's net income in the year.
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