Examlex
Which statement regarding responsive supply chains is most accurate?
Automatic Extension
An extension of time granted by the IRS for filing tax returns without needing to file a request form.
C Corporation
A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.
Return
A document containing details about an individual's or entity's income, deductions, and tax liabilities filed with the tax authorities.
Basis
The initial value of an asset for tax purposes, used to calculate depreciation, amortization, and determines the gain or loss on the asset's sale.
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