The accumulated earnings tax is effectively a penalty on corporations. a. What is the purpose of the
Question:
The accumulated earnings tax is effectively a penalty on corporations.
a. What is the purpose of the accumulated earnings tax?
b. Why does the “reasonable needs of the business” exception either reduce or eliminate the accumulated earnings tax burden for many corporations?
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a To discourage corporations from retaining excess earnings for purposes unrelated to the corporatio...View the full answer
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Related Book For 
Federal Taxation 2017 Individuals
ISBN: 9780134420868
30th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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