For Each of the Following Taxes That Are Imposed on Private

question 26

Multiple Choice

For each of the following taxes that are imposed on private foundations and/or foundation managers, match the appropriate initial tax or additional tax.
-Tax on failure to distribute adequate amounts of income

• A)10% initial tax and 25% additional tax on private foundation.
• B)30% initial tax and 100% additional tax on private foundation.
• C)10% initial tax and 200% additional tax on private foundation.
• D)10% initial tax and 100% additional tax on disqualified person.
• E)10% initial tax and 200% additional tax on the disqualified person.

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Definitions:

Church Membership

The formal affiliation or association with a specific church or denomination, often involving participation in religious activities and adherence to its doctrines.

Attendance

The act of being present at a place, such as at an event, meeting, or institution like a school.

Profane

Anything considered to be mundane, ordinary, or not sacred in religious or cultural contexts.

Single

Pertaining to an individual who is not involved in a romantic relationship and is not married.