Vilayanur S. Ramachandran

A taxpayer is able to choose from three different tax structures upon forming his or her business. These three different businesses are known as partnerships, “C” corporations and “S” corporations. For methods of incorporation, the internal revenue code dictates a business entity on how they can benefit the taxpayer in the most tax efficient way. The main objective for a business entity and its owners or shareholders is to start a business that fits the owner’s needs and to avoid paying more taxes than the company or individual has to. “Passed by congress on July 2, 1909 and ratified February 3, 1919, the sixteenth amendment established Congress’s right to impose a federal income tax” (Milestone Documents, National Archives). Also, it’s imperative to establish and be familiar with a taxable year for the business entity. The impact that a taxable year has on the entity establishes the rules and regulations on how to compute the basis for the owners, taxable income, deductibility of losses, current or liquidating distributions, and treatments during those distribution events. All of these events influence the procedures in forming a business entity under the United States incorporation statutes.…

Sally Moolchan Tax Issue What are the tax consequence of distributions as applied to partnership, S corporation and C corporation? Conclusion The United State Internal Revenue Code was created to combine all the various laws relating to tax revenue into one concise document. It provided a simplify tax system for individual and business taxpayer. These tax codes help in determining the amount of tax you are required to pay and provide the basis for everything on your tax return. The IRC provided…

to the provisions of Act 23, Public Acts of 1993. Type the duration of the LLC unless it is perpetual. Information mentioned in Article III is vital for defining the lifespan of the LLC. Article IV requires input of the name of the registered agent located at the registered office of the limited liability company. Proceed with entering the street address, city, and the zip code of the registered office. Write the mailing address in the subsequent line if different from the registered address of…

The 1950s was a great success for the civil rights movement; there were a number of developments which greatly improved the lives of black people in America and really started the civil rights movement, as black people became more confident and willing to fight for their cause. The first big development of the ‘50s came almost immediately at the turn of the decade, when the Supreme Court essentially overturned the verdict reached in the Plessy vs. Ferguson trial of 1896. Thanks to the NAACP…

Another issue that needs to be considered for an S-Corp with substantial E&P is the passive investment income tax under §1375. This section applies specifically to an S-Corp that has carryover E&P from the period it was a C-Corp. If the gross passive investment income, including interest, dividends, certain types of rent, etc., exceeds 25% of gross receipts, the S-Corp may be subject to the tax on its net passive investment income. This section does not apply if the S-Corp does not have any…

same as people and our actions can consume us; we have to fight it everyday. Everyone has these battles between their guilty pleasures and self interest as people but if we follow a path of god we can find common ground. For knowledge, since you may not have any knowledge of who Heironymus Bosch is I will inform you of where he came from and his background on his painting skills. He gets his painting background from Jan van Aken his grandfather who was a painter, and was an advisor for the local…

The s-wave is wave A. The p-wave is always going to be faster than the s-wave. Wave B starts at the velocity of about 8 km/s and wave A starts at about 4 km/s. Since wave A is moving slower, it is the s-wave. Wave A also reflected off the outer core and wave B refracted. The p-wave is wave B. The p-wave is always going to move faster than the s-wave. Wave B starts at the velocity of about 8 km/s and wave A starts at about 4 km/s. Since wave B is moving faster, it is the p-wave. The…

Henrietta Swan Leavitt was a female astronomer who lead the way for the ability to measure the distance between two planets, along with many other. Leavitt was born to a minister in Lancaster, Massachusetts in 1868. She attended a a higher education at Society for the Collegiate Instruction for Women, now named Radcliffe College. She graduated the college with a Bachelor's degree, but it was not in astronomy, which she would later dedicate her life to. She did take an astronomy class in her…

The Civil War marked a defining moment in United States history. Long simmering sectional tensions reached critical when eleven slaveholding states seceded from the Union and formed the Confederate States of America. Political disagreement gave way to war as the Confederates insisted they had the right to leave the Union, while the loyal states refused to allow them to go. Four years of fighting claimed almost 1.5 million casualties, resulting in a Union victory. Even though the North won the…

“Friendship is a single soul dwelling in two bodies” (Aristotle). How can this happen when two characters are so different? How can they be similar? Dallas Winston and Johnny Cade from S.E. Hinton’s novel The Outsiders have a connection deemed unlikely because of their extensive differences. While each being divergent from one another, their similarities come into play as to why they care so much for one another. Their differences stretch amongst a wide variety, but along with those differences…