Question: 72. What is double taxation? a. It is when two separate tax authorities tax the same corporation. b. It is a situation that only affects

72. What is double taxation?

a.

It is when two separate tax authorities tax the same corporation.

b.

It is a situation that only affects sole proprietorships.

c.

It occurs when the business owner pays himself or herself a salary.

d.

It occurs when earnings are taxed once at the corporate level and then taxed a second time as personal income.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

72. What is double taxation? a. It is when two separate tax authorities tax the same corporation. b. It is a situation that only affects sole proprietorships. c. It occurs when the business owner...

Q:

72. What is double taxation? a. It is when two separate tax authorities tax the same corporation. b. It is a situation that only affects sole proprietorships. c. It occurs when the business owner...

Q:

7. Two analysts are overheard discussing technical trading rules. One says, "I have noticed over the last year or so that the market rises to about 11,000 and then falls back. It seems to do that...

Q:

1 . What is double taxation? a . It is when two separate tax authorities tax the same corporation. b . It is a situation that only affects sole proprietorships. c . It occurs when the business owner...

Q:

Chapter 1. Sample Assignment Instructions Find a sample document or article online related to a main topic in the chapter. In the Discussion Section, respond to two classmates and post the title &...

Q:

Can you help me with the final milestone? It entails completing the applicable tax forms. I've attached the the the criteria for Milestone 4 as well as my submission for milestones 1, 2 and 3 (just...

Q:

Can you help me with the final milestone? It entails completing the applicable tax forms. I've attached the the the criteria for Milestone 4 as well as my submission for milestones 1, 2 and 3 (just...

Q:

Can you help me with the final milestone? It entails completing the applicable tax forms. I've attached the the the criteria for Milestone 4 as well as my submission for milestones 1, 2 and 3 (just...

Q:

Can you help me with the final milestone? It entails completing the applicable tax forms. I've attached the the the criteria for Milestone 4 as well as my submission for milestones 1, 2 and 3 (just...

Q:

Do the reading assignment and then look up KRS 275.520 and read its text.Then answer the questions below. Fully explain your answers: 1.What is the taxation advantage of a LLC as opposed to a...

Q:

Match each enzyme name in the left column with the correct descriptive phrase in the right column. a. Topoisomerase II .................... i. Catalyzes most nucleotide...

Q:

The firm of Smith & Roberson, CPA's has offices located in Phoenix, Salt Lake City, and Denver. The Denver office handles the audit of Aspen Resorts, Inc. Kramer is a partner in the Denver office...

Q:

Find the value or the following convergent improper integral a 8 4 x 2 d x = ? , there a = 8

Q:

Collect data and analyze data from a survey focusing on certain aspects of the employees engagement experience and their perception of CSR in their companies. Individually, you will need to collect...

Q:

Q4) A survey of 145 people asked them "Which is the nicest fruit?": (Marks:5) Fruit: Apple Orange Banana Kiwifruit Blueberry Grapes People: 35 30 10 25 40 5

Q:

Explain why the SSU rRNA gene is used for phylogenetic classification schemes. ( essay style, list and explain at least 4 reasons)

Q:

Why is Phenotypic characterisation important for the purpose of microbial identification, list and explain examples of characterisation methods ( essay format please provide each point clearly and...

Q:

1. Artificial intelligence systems are a special type of decision support system a) True. b) False 2. Which of the following is an example of artificial intelligence? a. Intelligent agents b. Genetic...

Q:

A pointer holds a memory address.

Q:

1. Imagine that you have already achieved a dream or a goal you have set for yourself. Both the goal and the dream correspond to your basic values. Try to visualize this dream or goal. What do you...

Q:

4. What means will you use to achieve these values?

Q:

5. List three of what you would call your core values. For each of these core values, answer the following questions. a. What is the purpose of this value in your life? b. How does this value affect...