The Excise Tax Imposed on Private Foundations for Excess Business

question 60

True/False

The excise tax imposed on private foundations for excess business holdings is imposed on investments that enable the private foundation to control publicly-held rather than privately-held businesses.

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Definitions:

Phobias

Intense, irrational fears of specific objects or situations that pose little or no actual danger.

Rituals

A sequence of activities involving gestures, words, and objects, performed in a sequestered place, and designed to influence preternatural entities or forces on behalf of the participants' goals and interests.

Obsession

An uncontrollable and persistent thought, idea, or feeling that dominates a person's mind.

Ritual

A set of fixed actions and sometimes words performed regularly, especially as part of a ceremony.