The Irontown Independent School District wants to sell a parcel of unimproved land that it does not need. Its three best offers are as follows: from the State Department of Public Safety (DPS), $4.3 million; from Trinity Lutheran Church, $4.2 million; and from Baker Motors, $3.9 million. DPS would use the property for a new state highway patrol barracks, Trinity would start a church school, and Baker would open a car dealer ship. As the financial adviser for the school district, which offer would you prefer? Why?
Answer to relevant QuestionsEileen, a resident of Wyoming, goes to Montana to purchase her new automobile. She does this because Wyoming imposes a sales tax while Montana does not. Has Eileen successfully avoided the Wyoming sales tax? Explain. Palmer, Inc., has a net operating loss carry forward of $100,000. If Palmer continues its business with no changes, it will have $50,000 of taxable income (before the NOL) in both 2014 and 2015. If Palmer decides to invest ...Contrast a value added tax (VAT) with a national sales tax in terms of anticipated taxpayer compliance. In no more than six PowerPoint slides, summarize your comments for a debate with other business students on the topic “Resolved: The U.S. Should Adopt a Value Added Tax (VAT).” What is the difference between a Regular decision, a Memorandum decision, and a Summary Opinion of the Tax Court?
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