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Alborosie
3 years ago
13

This year Nathan transferred $1 million to an irrevocable trust established for the benefit of his nephew. The trustee is direct

ed to accumulate income for the next 5 years before distributing the trust corpus to Nathan's nephew. In past years Nathan has made taxable gifts of $6 million and used all unified credit. What is the amount of gift tax, if any, must Nathan remit in 2017? Ignore the annual exception amount of $15,000.
A) 159,500
B) 155,800
C) 155,450
D) Zero- there is a $10 Million exemption equivalent
Business
1 answer:
iren [92.7K]3 years ago
7 0

Answer:

Zero- there is a $10 Million exemption equivalent ( d )

Explanation:

Annual exemption to be ignored = $15000

$1 million  to an irrevocable trust

taxable gifts = $6 million

A) The amount of gift tax Nathan must remit in 2017 ignoring annual exemption

The gift tax must remit in 2017 is zero because there is a $10 million exemption because of the annual exception ( even if the annual exception is ignored ) and  the lifetime benefits on taxable gifts that Nathan has is approximately $11.4 million, hence he wont be remitting any amount on gift tax in 2017

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new law that interfaces with productive efficiency.

Explanation:

The Production possibility curve shows all the two combination of goods or services that can be produced in an economy given its resources and technology. Carrying out production on the production possibility curve is efficient. Carrying out production to the right of the production possibility curve or outside the curve is impossible. Carrying out production inside or to the left of the production possibility indicates inefficiency in production .

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I hope my answer helps you

4 0
3 years ago
At the end of April, Cavy Company had completed Jobs 766 and 765. The individual job cost sheets reveal the following informatio
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Answer:

                               Job 765        Job 766

Direct material         $5,670          $8,900

Direct labor              $3,500          $4,775

Overhead                 $5,400          $8,800

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Total Job cost          $14,570        $22,475

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8 0
3 years ago
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Answer:

Mixed economy.

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In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are privately owned. Mashwen is a <u>Mixed</u> economy.

Mixed economy: It is a shared economy system, which has equal role of private enterprises and public enterprises. In the current global market, most of the economy are mixed economy. It allow private enterprises with equal opportunity to participate in the market, it create healthy competition among different player and buyer can have variety of product at low price.

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3 years ago
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A. The federal Reserve

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8 0
3 years ago
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3 years ago
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