This dividend is subject to normal income tax
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- Which of the following is true concerning dividends? a. Foreign dividends are included in income at their pre-withholding-tax amounts for tax purposes. b. Dividends received from a CCPC's business income that is not subject to the small business deduction are typically grossed-up to include 115% of the dividend. c. Dividends received a CCPC's business income that is subject to the small business deduction are typically grossed-up to include 138% of the dividend. d. Eligible dividends require a 115% gross up.5. Assume Rosas Company is a resident foreign corporation using OSD, determine the amount of OSD to be used to arrive at Net Income before tax.Which of the following statements is true regarding the dividends-received deduction? The dividends-received deduction is available for dividends received from foreign corporations. The dividends-received deduction is allowed to provide relief from triple taxation. Distributions received from S corporations are eligible for the dividends-received deduction. The stock can be held for only 30 days to be eligible for the dividends-received deduction.
- Dividends received by a domestic corporation from shares in another domestic corporation are exempt from income tax. Group of answer choices True False1. Gain on sale of shares of domestic corporation directly sold to a buyer is subject to what kind of tax? * a. Basic Income Tax (BIT) b. Capital Gains Tax (CGT) c. 8% Preferential Tax d. Real Property Tax (Local Tax) e. None of the abovementioned choices 2. Gain on sale of an unlisted shares from a non-listed Domestic Corporation is subject to what kind of tax? a. Basic Income Tax (BIT) b. Capital Gains Tax (CGT) c. 8% Preferential Tax d. Real Property Tax (Local Tax) e. None of the abovementioned choices 3. Gain on sale of shares of a closely-held corporation is subject to what kind of tax? a. Basic Income Tax (BIT) b. Capital Gains Tax (CGT) c. 8% Preferential Tax d. Real Property Tax (Local Tax) e. None of the abovementioned choices1. What is a dividend distribution?What two IRS Code Sections generally applies to dividends? Give Code Sections ____________ When are dividends considered Ordinary Income? Give Code Section _______________When are dividends considered a Return of Capital? Give Code Section _______________ When are dividends considered Capital Gain? Give Code Section _______________
- 1.) Which of the following is tax exempt for a domestic corporation? a. business income derived from abroad b. dividend from a domestic corporation c. monetary benefit from deposit substitute 2.) Which of the following types of income is/are not returnable a. Professional Income b. Business Income c. Compensation Income d. Capital GainsWhich, if any, of the following transactions incurred by an S corporation is not a separately stated item? A Tax-exempt income. B Foreign tax credit. C AMT adjustments and tax preference items. D Amortization of organizational expenditures. E Domestic production activities deduction (DPAD).dividends subject to regular tax in the philippines includes a. dividends received from foreign sources b. both from foreign and domestic c. dividends received from domestic sources d. neither from foreign and domestic
- a. What is the Taxable Income? b. Assume F5 corporation is a resident foreign corporation, how much is the taxable income?Which of the following statements in relation to the taxation treatment of unfranked distributions from Australian shares is most correct? A.Unfranked dividends are taxed as normal income and no imputation credits apply B.Unfranked dividends have tax paid at the company rate prior to their distribution to individual shareholders C.Unfranked dividends are tax-free to the investor D.The taxpayer receives the value of franking credits whether they receive the dividends as cash or as extra shares through a dividend re-investment pTo qualify as a pass-through entity for U.S. corporate income tax, a REIT must be all of the following EXCEPT a.structured as a corporation, trust, or association. b.have transferable shares or certificates of interest. c.managed by a board of directors or trustees. d.jointly owned by less than 100 persons.
