On January 4, 2018, Owen Died and Left Ranch Land

question 128

Essay

On January 4, 2018, Owen died and left ranch land with a value of $300,000 to his brother, Victor. This transfer was purely donative with no expectation of anything in return. Victor transferred all of this land to his corporation, Circle C Ranch, Inc. Victor is the president and an active employee of the corporation. Victor's salary from the corporation is $40,000 per year. The ranch land is located in Torrent County, Texas. The Torrent Appraisal District appraises the property.
?
From the above facts name six different types of federal, state, or local taxes that might have to be paid and name the entity that is liable to pay them.

---

Definitions:

Status Structure

The set of authority and task relations among a group’s members.

Task Relations

The dynamics and interactions between tasks within a workflow or project.

Authority

signifies the legitimate power or right given to an individual or body to make decisions, command resources, and enforce obedience.

Performing Stage

A phase in group development where members effectively work together and achieve high levels of task performance and cooperation.