Taxation

1. The merger is a qualifying reorganization. It is a forward triangular merger, §368(a)(2)(D), because the parent (ODI) created a subsidiary (Atlantic) with the contribution of its stock (the ODI Nonvoting Preferred Stock), and then the target (CPI) merges into the subsidiary (Atlantic). CPI’s shareholders will receive the nonvoting preferred stock of ODI, and CPI will disappear. The requirements necessary under §368(a)(2)(D) is that the subsidiary acquires substantially all of the target’s assets

Economics is an integral part of civilization of the world. In any case, economics issues that emerged in the community is practically quite difficult to resolve. Henry Hazlitt in his book "Economic in one lesson" revealed that economics is overshadowed by fallacies because of two main factors which intensify the problem’s complexity. The first factor is the tendency of people to defend their respective interests. One group may have similar interests with all other groups, however, they also have

Starting a business can be quite overwhelming; especially for first-timer and starting it in a country one knows no one and has never been before. I chose New Zealand (NZ) due to the fact that it is ranked in the 2015 World Bank survey as the simplest place in the universe and the world’s second least difficult country to start a business. It is also one of the most exquisite, friendly places to do business in the universe, stress free, excellent standard of living, there is no capital gains tax

People may think of the benefits of legalizing gambling first, but there come clear distinct problems that could be the result of the legalization. It is without question that there would be instances of players betting on various games whether it be on games in their league or others, and would give the leagues another giant problem to monitor of their players. There have already been clear problems with a variety of players in different sports like John Daly in golf, Michael Jordan, and Charles

The size of potential synergies is small as Burger King and Tim Hortons will continue working as distinct brands. As a result, only common corporate services and several purchase savings will enjoy any arising synergies. 2.1 Burger King First, Burger King will experience an increase in revenue after taking over Tim Hortons (Kirby, 2014). The increase of revenue is due to the improved menu resources. However, menu resources will not help Burger King outdo its current competitors like McDonalds.

Chapter 06 Analyzing Operating Activities     Multiple Choice Questions   1. Which of the following is not a reason for economic income and accounting income to differ?  A. Transaction basis B. The monetary assumption C. Conservatism D. Earnings management   2. As a general rule, revenue is normally recognized when it is:  A. measurable and earned. B. measurable and received. C. realizable and earned. D. realizable.   3. Which of the following measures of accounting income is typically reported

Section 14(1) of the Income Tax Act states the general deduction formula: "…there shall be deducted all outgoings and expenses wholly and exclusively incurred during that period…in the production of the income". We shall now discuss the general deduction formula, determine deductibility of expenses, and examine non-deductible expenses that are given special concessions. "Wholly and exclusively" The judgment in Bentleys, Stokes and Lowless v Beeson (1952) 2 All ER 82 at 85 clearly highlights that

Introduction Green taxes were introduced objectively to tackle environment pollutions. According to (Fullerton, Leicester, & Smith, 2008), taxes on things such as Landfill, industrial energy use (the climate change levy), aggregate levy, motor fuel differentiation, vehicle exercise duty differentiation and central London congestion charge had either been introduced or reformed in the past 20 years to tackle environmental pollution. These taxes are called Green Taxes or Environmental Taxes. Global

The question of why people pay taxes is as old as taxes themselves. Allingham and Sandmo (1972) provided the main theoretical model based on the economics of crime approach (Becker [1968] 1974) where individuals would evade taxes as long as the payoff from tax evasion outweighs the costs of being caught evading. Increasing the costs of cheating – more audits, and stiffer penalties - should reduce tax evasion. Unfortunately, over time that theoretical approach has shown its limitations. First, it

PART A Joan and Darby (“the taxpayers”) have not filed tax returns in five years since 2005. The taxpayers sold their home in 2005 and their concerns are whether the sale has had any tax consequences for them. CGT Event The first issue is whether the sale of the taxpayers Hunter’s Hill home on 15th May 2005 has triggered a Capital Gains Tax (“CGT”) event. The applicable statute relevant to this issue is s104-10[1] of the ITAA97[2]. Since the taxpayers’ home was disposed of with a change of