e general rate reduction applies ONLY to ________. Question content area bottom Part 1 Choose the correct answer. A. income of
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Ma3.
e general rate reduction applies ONLY to ________.
Question content area bottom
Part 1
Choose the correct answer.
A.
income of CCPCs
B.
C.
property income of Canadian corporations
D.
income of corporations that is NOT subject to other tax benefits
Step by step
Solved in 3 steps
- LO.3, 4, 5 Contrast the income taxation of individuals and C corporations as to: a. Alternative minimum tax. b. Dividend income. c. Qualified business income deduction of 20 percent. d. Use of the cash method of accounting. e. Accounting period used for tax purposes. f. Applicable tax rates. g. Due date of the tax return.4b5) The result of capital cost allowance multiplied by marginal corporate tax rate is called: A. total tax cost B. the capital cost allowance tax shield C. corporate income tax D. none of the above 4b7) In Canada, the deductions of Capital Cost Allowance have: A. no impact on the firm's cash flows B. positive impact on the firm's cash flows C. negative impact on the firm's cash flows D. none of the aboveIs there a reason to pick one over the other? 1. FCFF=CFO +Int (1-Tax rate) - FCInv 2. FCFF=NI + NCC + Int (1-Tax rate)-FCInv-WCInv 3. FCFF=EBIT (1-Tax rate) + Dep - FCInv -WCInv 4. FCFF=EBITDA (1-Tax Rate) + Dep (tax rate) - FCInv - WCInv
- 1.Whatare the conditions under Income Tax Act, ACT 896 forexpenditure to be allowed as a deduction when computingbusiness, employment or investment income?2.List5 allowable deductions from the assessable income3.Assumethat the written down value of assets in the pool 2 isGH 100 000 and the repairs and improvements is GH 20 000What will be the tax allowable expenses?4.Giventhat the assessable income for the company isGH 140 000 the finance cost is GH 90 000 and there is nocorresponding finance gain, what is the allowable expense?H5. Generally, which of the following non-cash charges is/are added to earnings after tax to calculate the after-tax cash flow? I. Depreciation II. Deferred taxes Group of answer choices Both statements I and II are correct Neither statement I nor II is correct Only statement II is correct Only statement I is correct Explain wrong options also and explain with detailsQuestion2: Income tax The taxable income of Ahmed, Badriya and Sameer is $20,000, $45,000, $100,000 respectively. Use the following tax rates: 5% for income from 0 - $20,000 10% for income from $20,001 - $50,000 15% for income above $50,000 Calculate the tax payable by each person. Explain the type of taxation system applicable in this situation. Is this system of taxation fair? Explain why this system is being criticised?
- 1. What is the due date for submitting Form 1096? Answer: A. 12/31 of the current year B. 1/31 of the subsequent year C. 3/15 of the subsequent year D. 4/15 of the subsequent year 2. If a state is subject to a credit reduction, its employers will pay a(n) _____ FUTA rate in comparison to the previously effective rate. Answer: A. lower B. higher C. identical D. variable 3. The earnings threshold below which no self-employment taxes are owed is _____. Answer: A. $100 B. $400 C. $7,000 D. $137,700It is talking about Hong Kong Tax, Special Business, Calculating Profit tax of financial insituition. Can you please explain the relationship between S.14, S.15 (i), D7/84 and the interpretation on S.15(1)(i) below and provide a simple exmaple to explain the relationship. D7/84 ◦ The sequence in determining the taxability of interest income of an FI: Consider s.14(1) first If not chargeable under s.14(1), then consider s.15(1)(i) ◦ Interpretation on s.15(1)(i): (a) if the place where the funds are made available is a factor in determining source under s.14; and (b) if under s.14 it is decided that the interest is not subject to Hong Kong tax Then the matter must be viewed again under s.15(1)(i) but this time the place where the funds were provided is to be disregarded as a factor in determining the source of the interestConsider a system that computes the taxes owed by an individual. It computes the tax according to the following rubric: 1. No tax on the first $4000. 2. The next $1500 is taxed at 10%. 3. The next $28000 is taxed at 22%. 4. Any further amount is taxed at 40% To the nearest dollar, which of these is a valid boundary value test case? a) 1,500 b) 32,001 c) 33,501 d) 28,000
- Please use own sentences and not googleable. Please help me Malaysia's New Digital Service Tax(DST) have been implementation 6% present on 1 Jan 2020 on foreign digital service providers Malaysia : Please discuss and give explaination with examples with this Administrative of digital tax 1.scope of digital tax 2. Chargeable person 3. Taxable Period 4.threshold 5. Submission of return 6.penalties on non compliances1. X borrowed money from Y worth 10,000 and owed 5,000 tax liabilities to BIR. Which of the two liabilities will most likely cause X’s imprisonment for reason of nonpayment? a. Loan from Y b. Tax due to BIR c. Both d. None of the above 2. As to scope; which is comprehensive and plenary? a. Taxation power b. Police power c. Eminent domain d. All of the above 3. I. LGUs exercise taxation power II.As to amount, tax has no limit. a. TT b. FF c. TF d. FT*see attached What amount of income tax payable should be reported?a. P 385,000b. P 498,000c. P 425,000d. P 305,000
