1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
soldi70 [24.7K]
3 years ago
5

Ewan is a nonresident of California and holds a partnership interest in a California partnership. He received a Schedule K-1 fro

m the California partnership that included net income of $10,000 from California sources. What amount of the distributive share of partnership net income is taxable by California?
Law
1 answer:
nignag [31]3 years ago
6 0

Answer:

The amount of the distributive share of partnership net income that is taxable by California is the share of the partnership's net income of $10,000 that can be attributed to Ewan.

Assuming he holds a 50% interest in the partnership, he is expected to pay tax on his share of the $10,000 (which is equal to $5,000) in California, where the income is earned and not where he resides.

Explanation:

A partnership as an entity does not pay taxes.  But individual partners must pay taxes on their shares of the partnership income, whether it is actually distributed or not.  The partnership usually lists the partners' income on Schedule K-1, while individual partners fill the normal individual tax returns.

You might be interested in
A violent and demeaning form of abuse in a romantic relationship is called
NARA [144]

Answer:

intimate terrorism

Explanation:

An intimate terrorism can be referred to as the presence of physical assault by a relationship partner; the partners could be a current partner or an ex partner.

The physical assault is in such a way that varieties of tactics are used to maintain control over the other person in the relationship

As mentioned earlier, intimate terrorism involved physical assaults and it can assume any of the following forms; it could be physical, verbal, emotional, economic and sexual abuse.

5 0
3 years ago
What is the legal process of a property or properties in an unincorporated area or county becoming part of a neighboring city
Goryan [66]

Answer:

The two most prevalent types of city boundary changes are incorporation, which is the creation of a city government in unincorporated territory of a county, and annexation, which is the addition of unincorporated territory to an existing city.

6 0
1 year ago
If Massachusetts has a sales tax of 6 percent and New Hampshire has no sales tax, how much money can be saved by buying a $1,000
Goshia [24]

Answer:

$60

Explanation:

6 percent of 1,000 is 60

6 0
3 years ago
Read 2 more answers
How do governments keep order in society?
Nataliya [291]

Answer:

                                                                                    .

Explanation:

.

5 0
3 years ago
The law making process is similar in the House and Senate with slight
lina2011 [118]

Answer:

Both houses must accept the bill

Explanation:

Before a bill can be passed on to the president to either veto or pass, it must first be approved by both the House and the Senate. The houses generally hash out their differences, rewrite the bill, and provide the final draft to the president who can then either veto the bill or pass it. There are also other ways in which a bill can be passed if the president vetoes it. For example, the chamber that originated the legislation can attempt to override the veto by a vote of two-thirds of those present.

6 0
3 years ago
Other questions:
  • The Digital Millennium Copyright Act __________. Question 7 options: A) increased penalties for copyright infringement B) create
    12·1 answer
  • - ¿Por qué es importante que las ciudadanas y los ciudadanos ejerzan su derecho a participar de la vida pública del país? - ¿En
    12·1 answer
  • What does securing the crime scene involve?
    5·1 answer
  • The amount of nicotine contained in a single pack of cigarettes is enough to __________ an adult when consumed quickly enough.
    7·1 answer
  • How long does it take you to stop if you are driving 30 mph?
    5·1 answer
  • ¿quien resuelve las controversias en materia civil?
    14·2 answers
  • HELP ASAP PLEASEE!!!
    8·1 answer
  • The juvenile justice system handles only delinquency cases; cases in which children are abused or neglected are not the responsi
    11·1 answer
  • Under what circumstances may a president be sued
    10·1 answer
  • The Framers of the Constitution originally left voter rights and suffrage up to
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!