Question

1. Match the following statements. Please put the letter next to the appropriate number. (NUMBERS 87-91)

a. For the corporate taxpayer, are taxed using the regular tax rates. b. Must be capitalized, but can be amortized over 180 months. c. For the corporate taxpayer, the rate is 21%. d. For the corporate taxpayer, cannot be deducted at all in the current tax year. e. For the corporate taxpayer, limited to 10% of taxable income before certain deductions.

87. Organization costs

88. Regular tax rate

89. Net capital gain

90. Net capital loss

91. Charitable contributions

Answer 1

Charitable contributions e. For the corporate taxpayer, limited to 10% of taxable income before certain deductions.

Regular tax rate   c. For the corporate taxpayer, the rate is 21%.

Organization costs   b. Must be capitalized, but can be amortized over 180 months.

Net capital gain a. For the corporate taxpayer, are taxed using the regular tax rates.

Net capital loss d. For the corporate taxpayer, cannot be deducted at all in the current tax year.