The benefits of a passive investment company typically include:
a. Reduced state income taxes.
b. Isolation of the entity's portfolio income from taxation in other nonunitary states.
c. Exclusion of the subsidiary's portfolio income from the parent corporation's apportionment formula denominator in other nonunitary states.
d. All of the above are benefits.
d
You might also like to view...
The transfer of title from grantor to grantee, and from that grantee to a subsequent grantee, and so on, is called
a. a cloud on the title. b. the chain of title. c. delivery and acceptance. d. an acknowledgment.
Rowe Corp purchased goods from Stair Co that were shipped COD. Under the sales article of the UCC, which of the following rights does Rowe have?
a. The right to inspect the goods before paying. b. The right to possession of the goods before paying. c. The right to reject nonconforming goods. d. The right to delay payment for a reasonable period of time.