Corporate Taxation Essay Example for Free

Corporate Taxation Essay 1. The definition of property as it relates to a section 351 transaction includes money. (TRUE) 2. A taxpayer always will have a tax basis in boot received in a section 351 transaction equal to its fair market value. (TRUE) 3. Mandel transferred property to his new corporation in a section 351 transaction. One of the properties transferred was land with a fair market value of $200,000 and a tax basis of $250,000. The corporation will always take a tax basis in the land of $200,000 to prevent the â€Å"built-in loss† from being transferred from Mandel to the corporation. (FALSE) 4. Han transferred land to his corporation in a section 351 transaction. Han had held the land for two years prior to the transfer. The corporation will tack Han’s holding period for the land. (TRUE) 5. Roberta transfers property with a tax basis of $400 and a fair market value of $500 to a corporation in exchange for stock with a fair market value of $350 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $150 on the property transferred. What is the amount realized by Roberta in the exchange? ($500) 6. Antoine transfers property with a tax basis of $500 and a fair market value of $600 to a corporation in exchange for stock with a fair market value of $550 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $50 on the property transferred. What is Antoine’s tax basis in the stock received in the exchange? ($450) 7. Carlos transfers property with a tax basis of $500 and a fair market value of $800 to a corporation in exchange for stock with a fair market value of $650 and $50 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $100 on the property transferred. What is the corporation’s tax basis in the property received in the exchange? ($550) 8. Tristan transfers property with a tax basis of $900 and a fair market value of $1,200 to a corporation in exchange for stock with a fair market value of $900 and $200 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $100 of the property transferred. What is the corporation’s tax basis in the property received in the exchange? ($1,100) 9. Ashley transfers property with a tax basis of $5,000 and a fair market value $3,000 to a corporation in exchange for stock with a fair market value of $2,000 and $500 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $500 on the property transferred. What is Ashley’s tax basis in the stock received in the exchange? ($4,000) 10. Which of the following statements best describes the concept of control as it applies to a section 351 transaction? Control is defined as the ownership of 80 percent of more of a corporations voting stock and 80 percent or more of the total number of shares of each class of nonvoting stock.

Colgate Palmolive :: essays research papers fc

Colgate Palmolive With a continuous expansion in it's product line, Colgate-Palmolive is taking on the look of one of the most stable stocks on the exchange. Colgate has a wide variety of products sold around the globe including, Colgate Toothpastes, Speed Stick Deodorants, Ajax Surface Cleaner, and Hill's Science Diet foods for house pets. Colgate was founded in 1806 in New York City on Dutch Street by William Colgate as a starch, soap and candle business. Colgate produced soaps and perfumes or the next 67 years and then in 1873, they introduced their first toothpastes, which were aromatic toothpastes. Then 13 years later, they introduced the first dental creme packaged in collapsible tubes similar to those used today. After 104 years of being in business on Dutch Street, the largest tenancy on record in New York City the entire Colgate organization moved to Jersey City. In 1928 Colgate made its greatest merger of all time with the Palmolive-Peet Company and in 1953 took on its present name of Colgate-Palmolive. By 1967 Colgate-Palmolive was on a roll with sales passing the 1 billion dollar mark. In the years after, Colgate began acquiring major companies and expanding its product line with the purchases of Hill's Pet Products in 1976, the Mennen Company in 1992 and in 1993 acquired the liquid soap brands of S.C. Johnson. Before the purchase of Mennen Co. in 1992, Colgate Palmolive had no major presence in the deodorant industry. With the purchase of Mennen Co. they held 16% of the deodorant market but had to compete with Proctor and Gamble, who held 26% of the market with products such as Sure, Secret and Old Spice. After the purchase of Mennen Co., which was easily purchased without resist for $670 million in cash, Colgate-Palmolive held 16% of the deodorant market with their Speed Stick and Lady Speed Stick deodorants, which are now the leading in world wide sales of deodorants. They also now own products under the Baby Magic name such Skin Bracer and Baby Magic Foot. Powder. In 1976 , Colgate-Palmolive acquired Hills Pet Products Inc. Since the foundation of this company in 1948, they have committed themselves to the health and welfare of dogs and cats. Today, Hill's Pet Nutrition Inc. is one of the leading pet food manufactures and is revolutionizing the pet food industry with its Prescription Diet products used by veterinarians to manage such conditions as obesity, heart disease, kidney disease and many others. Hill's Pet Products also manufacture Hill's Science Diet food. Hill's Pet Products has not always been a success. When it was founded in Colgate Palmolive :: essays research papers fc Colgate Palmolive With a continuous expansion in it's product line, Colgate-Palmolive is taking on the look of one of the most stable stocks on the exchange. Colgate has a wide variety of products sold around the globe including, Colgate Toothpastes, Speed Stick Deodorants, Ajax Surface Cleaner, and Hill's Science Diet foods for house pets. Colgate was founded in 1806 in New York City on Dutch Street by William Colgate as a starch, soap and candle business. Colgate produced soaps and perfumes or the next 67 years and then in 1873, they introduced their first toothpastes, which were aromatic toothpastes. Then 13 years later, they introduced the first dental creme packaged in collapsible tubes similar to those used today. After 104 years of being in business on Dutch Street, the largest tenancy on record in New York City the entire Colgate organization moved to Jersey City. In 1928 Colgate made its greatest merger of all time with the Palmolive-Peet Company and in 1953 took on its present name of Colgate-Palmolive. By 1967 Colgate-Palmolive was on a roll with sales passing the 1 billion dollar mark. In the years after, Colgate began acquiring major companies and expanding its product line with the purchases of Hill's Pet Products in 1976, the Mennen Company in 1992 and in 1993 acquired the liquid soap brands of S.C. Johnson. Before the purchase of Mennen Co. in 1992, Colgate Palmolive had no major presence in the deodorant industry. With the purchase of Mennen Co. they held 16% of the deodorant market but had to compete with Proctor and Gamble, who held 26% of the market with products such as Sure, Secret and Old Spice. After the purchase of Mennen Co., which was easily purchased without resist for $670 million in cash, Colgate-Palmolive held 16% of the deodorant market with their Speed Stick and Lady Speed Stick deodorants, which are now the leading in world wide sales of deodorants. They also now own products under the Baby Magic name such Skin Bracer and Baby Magic Foot. Powder. In 1976 , Colgate-Palmolive acquired Hills Pet Products Inc. Since the foundation of this company in 1948, they have committed themselves to the health and welfare of dogs and cats. Today, Hill's Pet Nutrition Inc. is one of the leading pet food manufactures and is revolutionizing the pet food industry with its Prescription Diet products used by veterinarians to manage such conditions as obesity, heart disease, kidney disease and many others. Hill's Pet Products also manufacture Hill's Science Diet food. Hill's Pet Products has not always been a success. When it was founded in

Misconception of African Americans Essay

Since the beginning of time African Americans have been viewed negatively. We have always been viewed as a threat to society and frowned upon by many races. There are many cliches displayed in the media of what African Americans are supposed to act like. These conclusions cause almost immediate negative feelings from other races and sometimes by our own race. African American females in television shows and movies are often shown as the loud â€Å"ghetto† acting, angry black girl who is always â€Å"telling someone off†. Actor Tyler Perry has been criticized for illustrating African American females as â€Å"big momma†, another negative portrayal of black women. Other times shapely video vixens cause other black females to be portrayed as â€Å"jump-offs† or gold diggers. African American males have even greater judgments to overcome. They are viewed as a menace to society. They are illustrated as wild, angry, dangerous â€Å"gang bangers†. Black men are viewed as absentee fathers or abusive husbands. Although, in some cases, African American males do possess some of these characteristics, there are just as many black men that are positive role models. These ignorant judgments are called stereotypes. A stereotype is defined as â€Å"a widely held but fixed and oversimplified image or idea of a particular type of person or thing†. Stereotypes, in my own words, are judgments blindly made by people who use ignorance as an excuse to be biased against those who are different from them. There are many different types of stereotyping. Racial stereotyping, sexist stereotyping, stereotypes about cultures, and sexual orientation stereotypes are all judgments that can affect one’s life in many ways. Stereotypes are, sadly, made by everyone. Racial stereotyping, however, is the most common type of stereotyping, and can sometimes be dangerous. The Trayvon Martin story, for example, is a situation where stereotyping turned tragic. Trayvon Martin was a young African American boy who was walking from the store with nothing but Skittles and a drink in his pockets. Because of his race, and the stereotype of what black Males are capable of, he was targeted, and tragically killed. There have been many similar cases of dangerous stereotyping. People’s fear of what the media shows we are suited to do, has gotten out of control. Too many of us are dying because of this fear. While many stereotypes do seem to be believable, people like Barack Obama, Michelle Obama, my grandparents, and my mom allow me to realize that not all stereotypes are true.

Essay on Expectations - to Kill a Mockingbird - 1247 Words

The following essay is based on the theme of â€Å"Expectations† in the novel ‘To Kill a Mockingbird’. The novel set during the 1930’s depression in Maycomb south Alabama is based upon the ignorance and prejudice present in society. The theme of ‘expectations’ is an imperative motif which affects the events that occur throughout the novel. Social expectations were rigidly upheld in Southern Alabama in the 1930’s. These expectations determined what behaviours were acceptable for men and women, Caucasians and Negros and different economic classes in society. The social setting in Maycomb County has a profound effect on the expectations in the novel. Initially, all individuals of Maycomb know about each other’s background and upbringing for†¦show more content†¦During Tom Robinson’s trial, the strong prejudice of Maycomb County and the negative effects of its social stratification were clearly demonstrated. Whilst Tom Robinson is innocent of the crime of rape, he gave the Caucasians more reason to convict him on the basis of daring to feel sorry for a Caucasian - it is not expected that a negro (considered as being a part of the lowest class of society, event lower than the ‘white trash’) could feel sorry for a Caucasian and the Caucasians could not accept such a presumption. [†¦] ‘You’re a might good fellow, it seems - did all this for not one penny?’ ‘Yes suh. I felt right sorry for her, she seemed to try more’n the rest of ‘em -’ ‘You felt sorry for her, you felt sorry for her?’ ‘Mr Gilmer seemed ready to rise to the ceiling. The witness realized his mistake and shifted uncomfortably in the chair. But the damage was done. Below us, nobody liked Tom Robinson’s answer. Mr Gilmer paused for a long time to let it sink in.’ (Chapter 19, page 218) Although there were doubts regarding Bob Ewell’s testimony and Atticus pleads the jury to give Tom equal standing under the eyes of the law, the jury still convicts Tom as being guilty to rape of Mayella Ewell. This lead to Jem’s mistrust in the legal system as Jem was old enough to understand the events that were occurring, but he wasn’t old enough to understand the reasoning behind Tom’s conviction as nothing has yetShow MoreRelatedGreat Expectations by Charles Dickens and To Kill a Mockingbird by Harper Lee710 Words   |  3 Pages The two novels â€Å"Great Expectations† and â€Å"To Kill a Mockingbird† relate us about discrimination during two different periods in history, even though their characters have similar characteristics. The society represented in these books is unequal, because powerful people tended to be more dominant over the poor ones. Certainly, it reflects the disadvantages of not having an education, and remarks that w ithout it, people have no principles. Of course, these characters seek success like Pip, who wasRead MorePip in Charles Dickens Great Expectations and Jem and Scout in Harper Lees To Kill a Mockingbird1381 Words   |  6 PagesBoth Pip in Charles Dickens Great Expectations and Jem and Scout in Harper Lees To Kill a Mockingbird have deep fears in early childhood. How do the authors create these fears and vulnerabilities? Charles Dickens Great Expectations and Harper Lees To Kill a Mockingbird are two very different books. Great Expectations tells the story of a young boy growing up in Kent at the beginning of the 19th century, and To Kill a Mocking Bird centres around two children growing up in AmericaRead MoreEssay about Harper Lees To Kill a Mockingbird991 Words   |  4 Pagesâ€Å"‘You want to grow up to be a lady, don’t you?’ I said not particularly† (Lee). 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A mockingbird can be a meek man accused of a crime, or a youngRead MoreHope in To Kill a Mockingbird by Harper Lee911 Words   |  4 PagesTo Kill a Mockingbird by Harper Lee is extensively a story of hope. Hope is to wish for something with expectation of its fulfilment and to have confidence; trust. This is shown through the themes, issues and the characters in the novel. Atticus represents hope, he is optimist. He is from the higher class and defends the lower class and still has the anticipation to win. The Finch family has hope as Atticus has taught his children to be accepting and have open-minds. Racism and prejudice, giveRead MoreGender Equality In Alice Walkers The Color Purple704 Words   |  3 PagesBy the release of The Color Purple, women had already begun to eliminate gender discrimination in education, voting, sports, and in the workforce. During To Kill a Mockingbird’s time, only â€Å"30 percent of wives worked outside the home in 1960† (â€Å"Modern America†). This would eventually grow into â€Å"50 percent by 1980† (â€Å"Modern America†), which alludes to gender bias becoming less of an issue when The Color Purple came to be. By 1980, still two years before the publication of Alice Walker’s novel, â€Å"moreRead MoreA Time to Kill and to Kill a Mockingbird1314 Words   |  6 PagesThe movie based on John Grishams A Time to Kill is a Hollywoodized, modern-day version of To Kill a Mockingbird. Both movies employ many of the same themes and plot elements; but the former movie is one-dimensional and predictable while the latter is innovative and purposeful. The movie version of Harper Lees novel To Kill a Mockingbird is considered a classic film, whereas John Grishams adapted novel is merely another example of the money m aking efforts of Hollywood. Some of the movies moreRead MoreRacism, Justice, Social Expectations And Corruption1014 Words   |  5 Pagescontroversy.† This statement perfectly portrays the characters in To Kill a Mockingbird by Harper Lee. These characters are: Tom Robinson, Atticus Finch, Arthur (Boo) Radley, and Scout Finch. The themes in this novel are racism, justice, social expectations and corruption, these themes can be seen through the racist attitudes towards Tom Robinson, the unjust decision to charge Tom Robinson as guilty because of his race, the expectation of scout to be feminine and wear dresses and how they corrupt theRead MoreEssay on How Harper Lee Was Influenced by The Times 1473 Words   |  6 Pageswrite about. Great authors write about what they know. They write about what they see. They write about what they hear. They write about personal experiences and incorporate details from their lives into their literature. Harper Lee’s To Kill a Mockingbird is a classical work that reflects the Civil Rights and Women’s Movement of the 1950’s-1960’s through her depiction of the relationship between blacks and whites and her portrayal of female characters. The 1950’s and the 1960’s was a time ofRead More Comparing the Movies A Time to Kill, by John Grisham and To Kill a Mockingbird1285 Words   |  6 Pages The movie based on John Grishams A Time to Kill is a Hollywoodized, modern-day version of To Kill a Mockingbird. Both movies employ many of the same themes and plot elements; but the former movie is one-dimensional and predictable while the latter is innovative and purposeful. The movie version of Harper Lees novel To Kill a Mockingbird is considered a classic film, whereas John Grisham?s adapted novel is merely another example of the money making efforts of Hollywood. Some of the movies