Comment on the following differences between the Federal estate and gift taxes
a. Applicable unified transfer tax credit.
b. Applicable unified transfer tax rates.
c. Availability of the charitable and marital deductions.
d. Availability of the annual exclusion.
a. Currently, the credit for all Federal transfer taxes is the same.
b. The unified transfer tax rates remain the same for both gift and estate taxes.
c. The charitable and marital deductions have always been, and continue to be, available for both gift and estate tax purposes.
d. The annual exclusion has always been, and continues to be, available only for gift tax purposes.
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Indicate whether the statement is true or false
Owners of ________ stock do not lose their rights to a dividend in a year in which no dividends are declared
A) cumulative preferred B) participating preferred C) convertible D) common