economic entity?
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- Which of the following is not an economic entity?
- SM Group of
- Lions Club International, a civic
- ABS-CBN Foundation, a charitable
- Chris James, a Quezon City resident who owns a chain of beauty
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- Which type of business will most likely have problems with insufficient funds for business? O Sole proprietorship Partnerships Corporations O LLCSSusanna Examine the information below and determine whether the corporations are associated. State the reasons supporting your conclusions using appropriate references from the Income Tax Act. Peter Beatrice 50 Common 50 Common SUSUBEA LTD. 100% P. HOLDINGS INC. 10 Preferred 25% PETER'S Elle INC. 40% MANUFACTURING John 35% Elle is Peter's wife and John is Peter's brother. Susanna and Beatrice are Peter and Elle's daughters, and both are over 18. Susubea Ltd's preferred shares are voting and have a value of $1,500,000 and the common shares held by Susanna and Beatrice have a value of $100,000.7. It was established to provide a national savings program and affordable shelter financing for the Filipino workers. * O GSIS HDMF SSS O Philhealth
- The Peppermint Partnership operates a successful candy business. It is considering taking the partnership public and becoming a master limited partnership. If it does so, will it be subject to the corporate franchise tax in New York, where its headquarters and operating plant are located?If the government intends to increase the welfare of certain groups through special programs bytaxing all communities as the cost of the program, then the efficiency of cannot be achieved. A.Pareto / Pareto B.pasaran / market C.ekonomi / economy D.Kaldor-Hicks / Kaldor-HicksIt is talking about Hong Kong Tax, Special Business, Profit Tax Computation of Financial instituition, please explain what is DIPN 21 and its related two concepts, "Initiation" and "funding" with example, and explain the two drafts below.
- Does James have income, gain or loss on the transaction in which he receives stock in TOBY, INC.? Indicate the amount of any income, gain, or loss. What is James’s basis in TOBY, INC. stock? Does Jenna have income, gain, or loss on the transaction in which she receives stock in TOBY, INC.? Indicate the amount of any income, gain, or loss.The first step in forming a sole proprietorship is filing out the appropriate paperwork and paying the necessary filing fees with the secretary of state in the state where the business will operate. True false S corporations and closed corporations' earnings are exempt from federal and state income taxes based on a commitment to reinvest in local communities. True falseWhat are the functions of Al-Amanah Islamic Bank of the Philippines and what do they do/mandate?
- which type of organization should be formed. Rob and Bran want to form a snow removal business. They are deciding between a general partnership and a limited liability company. Bran says it is important that the two have limited liability and do not pay corporate income taxes.a) Modern Day Gospel Fellowship is a non-denominational charity organisation established in 2001. The charity’s aim is to provide support to children from disadvantagedbackgrounds. The support comes in two folds i.e. academic such as scholarships and related academic activities and sports such as tennis, swimming and football. The aim is to provide total well-being to humanity.Modern Day Gospel Fellowship has detailed constitution which explains how the charity’s income can be spent. The constitution also notes that the administration expenditure cannot exceed 6% of annual income.The charity’s income is derived wholly from voluntary donations which includes: • Cash collected from public donations by volunteers.• Cheques sent to the charity’s head office.• Donation from generous individuals. Some of these donations have specific clauses attached to them indicating that the initial amount donated (capital) cannot be spent. However, the income (interest) from the donation can only be…Describe how a business charitable contribution is treated for tax purposes if the business owner is: A sole proprietor A 100% corporate shareholder A partner in a partnership A 100% S corporation shareholder Be sure to provide an example of a requirement of a qualified charitable contribution. Also, provide an example of how the different rules might affect a decision to make a charitable contribution. Please cite your sources.