Question 76. 76. The recipient of a tax-free stock dividend will have a zero tax

Question

Question 76.76. The recipient of a tax-free stock dividend will have a zero tax basis in the stock. (Points : 1)

       True
       False

Question 63.63. The gross estate may contain property transfers that are not included in the probate estate. (Points : 1)

       True.
       False.

Question 55.55. The throwback rule requires a company, for apportionment purposes, to include all sales of inventory sold into a state without nexus rather than from the state from where the inventory was shipped. (Points : 1)

       True.
       False.

Question 20.20. Under a U.S. treaty, what must a non-resident corporation create in the United States before it is subject to U.S. taxation on its business profits? (Points : 1)

       The physical presence of at least one employee.
       Permanent establishment.
       The physical presence of an asset such as a warehouse.
       U.S. trade or business.

Question 67.67. A bypass provision in a will requires a decedent to have a taxable estate in order to use an applicable credit to reduce total estate taxes on a married couple. (Points : 1)

       False.
       True.

Question 70.70. Including adjusted taxable gifts in the taxable estate causes these gifts to be taxed twice, once under the gift tax and again under the estate tax. (Points : 1)

       False.
       True.

Question 65.65. State tax law is comprised solely of legislative authority. (Points : 1)

       False.
       True.

Question 76.76. The recipient of a tax-free stock dividend will have a zero tax basis in the stock. (Points : 1)

Explanation / Answer

Solution:-

Question 76.76. The recipient of a tax-free stock dividend will have a zero tax basis in the stock:-

False

Explanation:-

The recipient must allocate a portion of the basis from existing stock.

Question 63.63. The gross estate may contain property transfers that are not included in the probate estate:-

True

Question 55.55. The throwback rule requires a company, for apportionment purposes, to include all sales of inventory sold into a state without nexus rather than from the state from where the inventory was shipped:-

False

Question 20.20. Under a U.S. treaty, what must a non-resident corporation create in the United States before it is subject to U.S. taxation on its business profits:-

Permanent establishment.

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