Are the AMT rates for the individual taxpayer the same as those for a corporate taxpayer?
No, the rates are different. The corporate AMT rate is 20%. The individual taxpayer has two rates: 26% for the first $186,300 of AMT base and 28% for the AMT basis in excess of that amount.
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In an operating lease, the lessee acquires the right to use an asset for only a limited period of time
a. True b. False Indicate whether the statement is true or false
Maxine offered to sell her video camera to Tom for $200 and also stated to Tom, "I will give you two weeks to accept my offer." One week later Tom learned that Maxine had sold the video camera to Cindy. In this case:
a. Maxine has revoked her offer to Tom. b. Maxine's offer is a firm offer and she must sell Tom a video camera for $200. c. Maxine must get the camera back from Cindy if Tom accepts within two weeks. d. an option contract was created, so Maxine is liable to Tom if she sells the camera to someone else within the two-week period.
Robert Lane, former CEO of Deere, a highly performing, highly ethical corporation, believes in the importance of senior management commitment to ethics, but he points out that the "tone at the top" must be reinforced by the actual behavior observed by suppliers, dealers, customers, and employees. At Deere, this is summed up in highly visible, frequently referenced shorthand known as:
A. the when. B. the who. C. the where. D. the how.
Consideration can be
a. a benefit to the offeror. b. a sacrifice by the offeree. c. performing an act. d. all of these.