In order for a personal property tax to be deductible as an itemized deduction, what three tests are required?
What will be an ideal response?
State or local property taxes must meet the following three tests in order to be deductible. The tax must be levied on personal property, the tax must be an "ad valorem tax," and the tax must be imposed, at a minimum, on an annual basis with respect to personal property.
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Customers shopping in a scented store
A. feel they wait a long time for checking out. B. always make impulsive purchases. C. feel no significance difference in the shopping experience. D. think they spent less time in shopping. E. tend to spend less time in the store.
When a corporation completes a 3-for-1 stock split
A) the ownership interest of current stockholders is decreased B) the market price per share of the stock is decreased C) the par value per share is decreased D) b and c
In contract law, intent is determined by the secret, subjective intent, or belief, of a party
Indicate whether the statement is true or false
The end of chapter case of Lucy v. Zehmer provided a good example of the objective person standard used to establish the necessary intent to create a contract
Indicate whether the statement is true or false