Examlex
The required adjustment for AMT purposes for pollution control facilities placed in service in 2012 is equal to the difference between the amortization deduction allowed for regular income tax purposes and the depreciation deduction computed under ADS.
Penalty
A punishment imposed for breaking a law, rule, or contract which often involves paying a fine or undergoing some form of restraint.
Implied Powers
Powers not explicitly stated but are considered necessary for fulfilling the expressly granted powers of an authority or government body.
Incorporated
refers to the process by which a business becomes a legally recognized entity that is distinct from its owners, providing benefits like liability protection and tax advantages.
Corporation Name
The legal name under which a corporation is registered to conduct business.
Q11: Thrush Corporation files Form 1120, which reports
Q12: On December 31, 2012, Flamingo, Inc., a
Q17: Briefly describe the accounting methods available for
Q35: The tax law requires that capital gains
Q41: Dick, a cash basis taxpayer, incorporates his
Q52: Leonard transfers equipment (basis of $40,000 and
Q55: Vertical, Inc., has a 2012 net §
Q70: Pedro, not a dealer, sold real property
Q78: Which of the following normally produces positive
Q102: Jackson sells qualifying small business stock for