Under check-the-box regulations corporation incorporation

Assignment Help Financial Accounting

Reference no: EM131206439

Under the check-the-box regulations a corporation incorporated under the law of any state can

a. elect to be taxed as a partnership.

b. elect to be taxed as a limited liability company.

c. elect to be taxed as a sole proprietor if there is only one shareholder.

d. not be taxed as anything other than a corporation.

Reference no: EM131206439

Questions Cloud

What is clydesdale companys profit margin : The Clydesdale Company has sales of $4,500,000. It also has invested assets of $2,000,000 and operating expenses of $3,600,000. The company has established a minimum rate of return of 7%. What is Clydesdale Company's profit margin?

The west regions costs were over or under budget : Budgetary Performance for Cost Center Caroline Company's costs were over budget by $319,000. The company is divided into West and East regions. The East Region's costs were under budget by $47,500. Determine the amount that the West Region's costs we..

What should its target unit variable cost? be : Base? Line, Inc. makes tennis balls. The company can produce up to? 500,000 cans of balls per year. Current annual production is? 450,000 cans. Annual fixed costs total? $150,000. The variable cost of making and selling each can of balls is? $0.75. I..

Partnership sold the securities : On January 2, 2015, Henry, Cabot, and Lodge formed a three-person equal partnership with Henry and Cabot each contributing $100,000 and Lodge contributing securities with a basis to him of $60,000 and a fair market value of $100,000. On February 28, ..

Under check-the-box regulations corporation incorporation : Under the check-the-box regulations a corporation incorporated under the law of any state can

The business owner did not have proper documentation : Here is a scenario from a prior classmate. Her sister owned her own business and could not figure out why she kept getting NSF fees from her bank. She was constantly transferring money and never knew why this was happening. Imagine you are the bank ..

Prepare a cash budget for the first quarter : The results of operations for the Preston Manufacturing Company for the fourth quarter of 2014 were as follows: Sales $ 500,000 Less variable cost of sales 300,000 Contribution margin 200,000 Less fixed production costs $ 100,000 Less fixed selling a..

Information about the budget for the year : Fenzel Slide Oil produces a lubricant, SlickTone, which is used on trombone slides. Information about the budget for the year 2015 is as follows: The company expects to sell 7,000 bottles of SlickTone in the first quarter, 6,300 in the second quarter..

Prepare an analysis showing whether the old machine : Kobe Company has a factory machine with a book value of $90,0000 and a remaining useful life of 5 years. It can be sold fro $30,000. A new machine is available at a cost of $300,000. This machine will have a 5 year useful life with no salvage value. ..

User Account

All Pages