Answer:
False
Explanation:
§ 351 establishes that businesses shall not recognize any capital gain or loss from property transferred to them in exchange of stocks or partnership share. So the businesses have to record this type of transactions at their fair market value and not their tax basis.
Answer: $35 million (nearest whole million)
Explanation:
To calculate the current year's tax Payable we will start by ascertaining the Net Taxable income.
Fema Corporation did not account for the net operating loss carryforward of $81 million in the $200 million pretax accounting and taxable income for the current year so we have to do that.
Doing that would be,
= $200 million - 81 million
= $119 million
This is the Net Taxable Income.
We will then use the NEW tax rate which was effected immediately to determine the new Tax Payable,
= $119 million * 0.29
= $34.51 million
= $35 million (nearest whole million)
Reliability because it shows that you are responsible to pay
The <u>Andromeda Galaxy</u>, a member of our local group, is moving toward us.
Our neighborhood galaxy, the Andromeda Galaxy, is moving closer. Since the beginning of the universe, which took place billions of years ago, it has been expanding.
Everything in the universe is drifting away from one another via space because there is no center to the universe. Our local group, which is bound together by gravitational attraction, includes the Andromeda galaxy.
The Andromeda Galaxy is our local group's biggest elliptic galaxy. It is larger than our own galaxy, the Milky Way, by more than thrice. The Local Group, one of many different groups of galaxies that are gravitationally connected to one another, includes both galaxies.
To learn more about the universe expanding
brainly.com/question/14142657
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