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What type of tax imposed on Sunset

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Reference no: EM132663617

Problem - Sunset, Inc., a § 501(c)(3) exempt organization that is classified as a private foundation, generates investment income of $500,000 for the current tax year. This amount represents 18% of Sunset's total income.

Required -

a. What type of tax imposed on Sunset is associated with its investment income?

b. Is the receipt of this investment income likely to result in Sunset losing its exempt status? Why or why not?

c. Would your answers in parts (a) and (b) change if the $500,000 represented greater than 50% of Sunset's total income? Explain.

Reference no: EM132663617

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