The US company, Walmart, is a resident of the US and also has stores in Canada. How is the corporate income of Walmart taxed in Canada? Choose the correct answer.
A. None of Walmart's income is subject to Canadian taxation.
B. The income Walmart derives from its US and Canadian operations is subject to Canadian taxation.
C. The worldwide income of Walmart is subject to Canadian taxation.
D. The income Walmart derives from its Canadian operations is subject to Canadian taxation.
The US company, Walmart, is a resident of the US and also has stores in Canada....
AAA is a US company. The corporate tax rate is 40% in USA. The company also has a 100% owned subsidiary in Canada. The tax rate in Canada is 30%. If for a given year the US company had $100 million of taxable profits from it US operations and additional $50 million of taxable profits from Canada operations. What is the total amount of taxes that the company will pay to IRS for the year assuming that the company paid...
21. Valuation of Walmart's International Business In addition to its stores in the United States, Walmart Stores, Inc., has 107 retail units in Argen- tina, 359 in Brazil, 395 in Canada, 412 in China, 2,296 in Mexico, and 604 in the United Kingdom. Overall, it has 6,100 retail units in foreign countries. Consider that the value of Walmart is composed of two parts, a U.S. part (due to business in the United States) and a non-U.S. part (due to business...
Which of the following persons would be subject to tax in Canada? Choose the correct answer. A. a US citizen who visits Canada on vacation B. a US corporation that has a distribution facility located in Canada C. a US corporation that employs Canadian citizens to work in its US facility D. a former Canadian citizen who has surrendered his citizenship and lived in the US for 5 years
#2) (3 Marks) Given each of the following unique scenarios, comment on whether or not the individual is a resident for taxation purposes and what Canadian taxes they are subject to. Ensure you include any time periods in your answer: a) Tom is a citizen of the US, but loves to travel and stay in Canada. His only source of income is part time work in the US. During the taxation year, he was in Canada for 175 days. b)...
Sponge Todd Square Corp (STSC) is a corporation resident in Canada that has asked you to prepare a calculation of their corporate Part I taxes owing for the 2018 taxation year. They have calculated their taxable income as follows: Active business income - $650,000 Interest Income (passive) - $70,000 Foreign income - $80,000 Losses carried forward (100,000) Taxable Income $700,000 STSC is associated with another corporation. The other corporation has already used $150,000 of the small business deduction limit. Please...
please answer
Amazon.com, Inc. is one of the largest Internet retailers in the world. Walmart Stores, Inc. is the REAL WORLD largest retailer in the United States. Amazon and Walmart compete in similar markets; however, Walmart sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet. Interest expense and income before income tax expense from the financial statements of both companies for two recent years follow (in millions): Amazon Walmart Year 2 Year 1...
Mark is a U.S. resident who lives in Minnesota and who owns a second home in Winnipeg. His only income consists of wages from his U.S. employer. The second home is used only by Mark and his family, and he does not rent it out for any portion of the year. Given these circumstances, Mark is subject to Canadian taxes ________. Choose the correct answer. A. on any income he earns while staying at the second home B. only if...
How will Walmart's use of robots change its break even point? Walmart (WMT) is robotic janitors in some of its stores. Walmart has purchased several Autonomous Cleaner (Auto-C) robots from Brain Corporation. An Auto-C robot looks like a Zamboni, the machine used to clean ice rinks. The robots scrub floors and clean store aisles. Sensors in the robots allow them to navigate around customers and other objects, so the robots can be used during store operating hours. Management at Walmart...
Question 3 View Policies Current Attempt in Progress Walmart Stores Inc. and Target Corp.reported the following information in 2015 excluding Target's discontinued operations Total assets. 2015 Total assets 2014 Revenue 2015 Net income, 2015 Walmart Target in US. S millions) in U.S. 5 millions) $204.751 $78.315 203.490 79.651 485,651 72.618 16,363 2.449 Industry averages were as follows: profit margin 27% asset turnover 3 times and return on assets, 100% Walmart (1) Profit margin (2) Asset turnover (3) Return on assets...
ADM 1 Continuing Company Analysis-Amazon and Walmart: Earnings per share Amazon.com, Inc. is one of the largest Internet retailers in the world. Walmart is the largest retailer in the United States. Amazon and Walmart compete in similar REAL WORLD markets; however, Walmart sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet. Earnings and common stock outstanding information was obtained from recent financial statements for both companies as follows (in millions): Amazon Walmart Net...