It takes 20-45 days to receive your state tax refund after submission of the documents.
What is tax refund?
A payment made to the taxpayer because they paid more in taxes than they owing is known as a tax refund or tax rebate. Since the federal income tax was first implemented in the early 1900s, tax rebates have been given out as a means of economic recovery during the majority of the 20th and 21st centuries. Tax refunds are payments sent to taxpayers who have overpaid taxes to the government during a tax year, typically as a result of an employer deducting too much tax from their paychecks. The overpayment is frequently sent to the taxpayer as a paper check or by direct deposit.
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The underlying principle behind the principle of stair decisis is _
Answer:
Binding precedent relies on the legal principle of stare decisis.
Explanation:
Stare decisis is a legal doctrine that obligates courts to follow historical cases when making a ruling on a similar case.
Stare decisis means to stand by things decided. It ensures certainty and consistency in the application of law.
Why do you think a "reliable, scholarly
Source is always stressed in academic
writing?
When you see the "holding " in a legal case, it means what
What is state bar number California?
The state bar number in California is a unique identifier assigned to an attorney who is licensed to practice law in the state. It is a critical component of the California State Bar, which is the state agency responsible for regulating the legal profession in California.
In order to obtain a state bar number in California, an attorney must pass the California Bar Exam and be admitted to the California State Bar. Once admitted, the attorney is assigned a state bar number, which is recorded in the California State Bar's database and is used to identify the attorney in all professional activities.
The state bar number is a crucial tool for the California State Bar in ensuring that the legal profession is regulated and that the public is protected from unethical or unprofessional attorneys.
Attorneys are required to include their state bar number on all legal documents and communications, which helps to ensure that the public can easily verify an attorney's credentials and disciplinary history.
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what are the importance of justinian’s political, social, and architectural achievements. explain what his achievements were in each area, and provide examples of each.
Political achievements of Justinian made important legislative reforms, Social achievements of Justinian was an influential figure in the areas of education and religion, Architectural achievements of Justinian's greatest architectural achievement was the construction of the Hagia Sophia
Justinian I, also known as Justinian the Great, was one of the most significant emperors of the Byzantine Empire. Justinian's political, social, and architectural achievements were significant for several reasons.
Political achievements of Justinian:
Justinian made important legislative reforms, such as the Codex Justinianus, which consolidated Roman law. Justinian's legal system, which became the foundation of modern Western law, emphasized the principle of justice.
Justinian's political achievements also include his ability to strengthen the power of the imperial office. He also created the Corpus Juris Civilis, a compilation of Roman laws, which helped to unify the empire and maintain the rule of law throughout the Byzantine Empire.
Social achievements of Justinian:
Justinian was an influential figure in the areas of education and religion. He established schools and universities, as well as promoted scholarship and scientific study.
His most significant social achievement was probably the construction of the Hagia Sophia, which became one of the most important religious buildings in the world. It was completed in just five years and is still standing today.
Architectural achievements of Justinian: Justinian's greatest architectural achievement was the construction of the Hagia Sophia, which is still standing today. It was a massive dome structure that had a profound impact on the field of architecture.
It was one of the most impressive structures of its time, and its design was copied throughout the world. In addition to the Hagia Sophia, Justinian constructed other significant structures, such as aqueducts and roads, which helped to improve the infrastructure of the Byzantine Empire.
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Justinian’s political, social, and architectural achievements are significant in the history of the Byzantine Empire.
The importance of Justinian’s political, social, and architectural achievements are:
Political Achievements: Justinian’s reign was marked by extensive political reforms. Justinian is considered to be one of the most significant Byzantine emperors in terms of his political achievements. Some of the important political achievements of Justinian are: He was successful in recapturing the western part of the Roman Empire which was lost to the barbarians. Justinian established the Code of Justinian, which was a comprehensive legal code that reformed and simplified Roman laws. Justinian centralized the administration of the empire and created new administrative offices to manage the empire. Justinian introduced new taxes that helped the empire to finance its military campaigns.Social Achievements: Justinian was also instrumental in bringing about significant social reforms during his reign. Some of his social achievements are: Justinian extended the rights of women in the empire. He allowed women to own property, file for divorce, and inherit property. Justinian also extended the rights of slaves in the empire. He introduced laws that prohibited the mistreatment of slaves and allowed them to file complaints against their owners.Architectural Achievements: Justinian was a great patron of architecture and was responsible for some of the most impressive buildings of the Byzantine Empire. Some of his architectural achievements are: He commissioned the construction of the Hagia Sophia, which is considered to be one of the most significant buildings of the Byzantine Empire. Justinian also commissioned the construction of several other churches and monuments such as the Basilica of San Vitale in Ravenna, Italy, and the Church of the Holy Apostles in Constantinople. Justinian’s architectural achievements helped to establish Byzantine architecture as a significant style in world architecture.To know more about Justinian, visit:
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The United States is on par with Russia in having more persons per capita in prison. Is that a sign that the United States is a nation that enforces its laws, or is it an
indication that something is inherently wrong with its criminal justice system? Please explain and then respond to a
According to the criminal justice system, the United States is the one that enforces the laws, and the poor are disproportionately represented in the prison population.
What is criminal?
The person who committed a crime is referred to as a "criminal." A individual is legitimately arrested if they are the indifferent perpetrator of the crime. Lawbreakers are classified into four types: persistent, moralistic, juridical, and organized. The perpetrator must be punished by the court.
According to the criminal justice, the United States is the one that writes the laws, and the crimes police are overburdened. A substantial proportion of the poor end up in prison.
Hence, the significance was the criminal aforementioned.
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Three policymakers are discussing how to ensure a just distribution of the national cake. One thinks a just distribution is sharing the national cake equally, the other thinks a just distribution is rather sharing the national cake fairly. Yet the third thinks a just distribution entails giving everyone his due. What are the reasons for their different views. Suggest ways to make progress in such a scenario
500-600 words
The first policymaker believes in equal distribution of the national cake, which means everyone gets the same amount regardless of their individual needs or contributions.
What does the second policymaker believe?The second policymaker believes in fair distribution, which means distributing resources in a way that takes into account individual needs and contributions.
The third policymaker believes in giving everyone their due, which means ensuring that everyone gets what they are entitled to based on their contributions and needs.
To make progress in this scenario, the policymakers can engage in constructive dialogue, listen to each other's perspectives, and seek common ground.
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why was the department of defense created 1 point
To reduce instances of military abuse of authority, the Department of Defense was established.
What was produced by the Defense Department?In order to prevent conflict and safeguard our nation's security, the Department of Defense must provide the necessary armed troops. The Army, Navy, Marine Corps, and Air Force make up the majority of these forces and have a combined active duty population of over 1.3 million men and women.
The Department of Defense was founded by whom?The Army, Navy, and Joint Chiefs of Staff presented detailed plans in 1945. In a specific message to Americans The creation of a single Department of National Defense was recommended to Congress on December 19, 1945, by President Harry Truman.
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but if the executive branch seeks to use that delegated power to create a law of vast economic and political significance, it must have clear congressional authorization
But if the executive branch seeks to use that delegated power to create a law of vast economic and political significance, it must have clear congressional authorization yes i agree.
In the United States, the numerous agencies and programmes that make up the federal government are authorized to operate through the passage of Congress authorization bills. One of the powers of the US Congress is to approve such initiatives. Those items have the ability to operate and exist legally thanks to authorizations. Before being signed into law by the President of the United States, authorization bills must pass in both the House of Representatives and the Senate of the United States. In contrast to revenue-raising legislation, which must originate in the House, they may originate in either chamber of Congress. They may also be taken into account at any time of the year.
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During a murder trial, the judge dismissed some of the evidence from the crime scene as invalid. Which reasons could possibly justify this dismissal?
A.
suspect’s DNA on the object
B.
victim’s fingerprint on the object
C.
police fingerprints on the object
D.
victim’s DNA on the object
Answer:
Answer is C
Explanation:
I took the test
Ralph received an inheritance of $30,000 from his aunt’s estate. He then bought a used sports car from Sid and paid $25,000 cash. Shortly thereafter, Ralph realized that Sid had fraudulently misstated the car’s mileage, horsepower, and engine condition. At the same time, Ralph realized he needed $15,000 in cash to close a real estate deal. As a consequence, he took out a loan using the sports car as collateral. a) Could Ralph still avoid and rescind the contract for the purchase of the car? b) Could he take any other legal action against Sid?
a) Ralph could void and rescind the contract with Sid the car because of fraud.
He had already paid Sid the sum of $25,000 for the car, whose mileage, horsepower, and engine condition were fraudulently misstated.
b) Ralph could take legal action against Sid to recover value for the fraudulent misstatements.
Thus, Ralph should immediately sue Sid to void the contract or recover damages.
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Sebastian is skateboarding outside the local rec center. On the sidewalk, he finds a wallet that someone has dropped. Sebastian does not see anyone around, and the wallet does not contain an ID, so he takes the wallet inside the recreation center to give to the desk. He hopes that the owner will come looking for it. What are Sebastian’s actions an example of? A. crime B. folkway C. more D. law
Answer:
law i think
Explanation:
if not its more
Why has the Texas Ethics Commission (TEC) faced severe criticism over its enforcement of campaign laws?
The Texas Ethics Commission (TEC) has faced severe criticism over its enforcement of campaign laws due to several reasons.
One of the primary concerns raised by critics is the perceived lack of effectiveness and efficiency in the TEC's enforcement actions. Critics argue that the TEC has failed to adequately investigate and penalize violations of campaign laws, leading to a sense of impunity among those who may be engaging in questionable campaign practices. The commission has been criticized for being slow in processing complaints and for its limited resources, which may hinder its ability to thoroughly investigate and take appropriate actions.
Another point of criticism is the perception of political influence or bias within the TEC. Some argue that the commission is susceptible to political pressures or that its members may have affiliations or loyalties that compromise their objectivity. This raises concerns about the impartiality and fairness of the enforcement process, undermining public trust in the TEC's ability to regulate campaign finance and ethics.
Furthermore, there have been criticisms regarding the transparency and accountability of the TEC's actions. Critics claim that the commission's decision-making processes lack transparency, making it difficult for the public to understand the rationale behind its enforcement actions. Additionally, concerns have been raised about the perceived leniency of penalties imposed by the TEC, with critics arguing that they may not serve as sufficient deterrents for potential violators.
The complexity and ambiguity of campaign finance laws in Texas have also contributed to the criticism faced by the TEC. Some argue that the laws themselves are convoluted and open to interpretation, creating challenges for consistent enforcement. The lack of clear guidance and the complexity of reporting requirements can create confusion among candidates, political committees, and donors, leading to unintentional violations that are then subject to TEC scrutiny.
Overall, the severe criticism faced by the Texas Ethics Commission over its enforcement of campaign laws stems from concerns regarding its effectiveness, perceived political influence or bias, transparency, and the complexity of campaign finance laws. Addressing these concerns and ensuring a more robust and fair enforcement process will be essential for rebuilding public trust in the TEC's ability to uphold ethical standards and enforce campaign finance regulations effectively.
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state law requires you to turn off your high beam headlights and switch to low beam headlights when a vehicle approaching from the opposite direction gets no closer than______feet away from you.
State law requires that you turn off your high beams and switch to low beams if a vehicle approaching from the opposite direction is within 300-500 feet.
In many states, the law requires drivers to switch from high beams to low beams when oncoming vehicles are within a certain distance. This distance is commonly referred to as "reasonable visibility". This means that if there is an oncoming vehicle at a distance where it is difficult for either driver to see clearly due to the intensity of the high beams, it is time to switch to low beams.
No specific distance is specifically mentioned in state law, but 300 to 500 feet is often considered a practical approximation. However, it is important to note that exact distances may vary depending on factors such as local traffic laws, weather conditions, road layouts and other relevant considerations.
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Should there be an obligation to recognize same sex marriage entered into in another state which that is lawful even if the state itself constitutionally does not recognize Sam sex marriage
first,it's forbidden by religions
what is the dominant legal approach toward commerce. it allows the federal government to regulate a wide array of economic activities through the commerce clause?
it allows the federal government to regulate a wide array of economic activities through the commerce clause.
An identified power described for the federal government in the American Constitution is the Commerce Clause. The US Congress shall have the authority "to regulate Commerce with foreign Nations, and between various States, and with the Indian Tribes," according to the clause. Each of the three areas of trade has been frequently discussed separately as a congressional power by courts and pundits. The names "Foreign Business Clause," "Federal Trade Clause," and "Indian Commerce Clause" are frequently applied to refer to the different parts of the Commerce Clause. The scope of the powers given to Congress through the Commerce Clause is a point of contention in the courts.
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Lauren is writing a small paragraph on main points of a text which reading phase this represents
Answer:
nonce hitting idiots
Explanation:
Lauren is writing a small paragraph on the main points of a text which the reading phase represents once-hitting fools.
What is a Paragraph?A paragraph is a stand-alone segment of writing that focuses on one idea. Typically, a paragraph will have many sentences. There will often be 5–7 sentences in each paragraph, however, this is not a requirement. The subject and the material will decide the length.
Depending on a variety of criteria, including the media, topic, audience, and aim, each paragraph may have two or three sentences, while others may only have one. However, a decent paragraph can often include no more than five phrases.
A strong topic phrase that quickly introduces the paragraph's subject should come first. A few phrases for development and assistance follow, further extending the subject. A conclusion sentence that summarizes the subject or offers one more piece of evidence to round out the paragraph serves as its last sentence.
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Connect each type of case on the left with a court that would most likely hold jurisdiction to hear
that case.
a person who wants to dispute a
traffic court
speeding ticket
a company declaring bankruptcy
juvenile court
a company that wants to appeal a case
involving two different states
bankruptcy court
a couple getting divorced
US Supreme Court
a crime by a 12-year-old girl
family court
Answer:
a) Traffic court: a person who wants to dispute a speeding ticket
b) Bankruptcy court: a company declaring bankruptcy
c) US supreme court: a company that wants to appeal a case involving two different states
d) Family court: a couple getting divorce
e) Juvenile court: a crime by a 12-year-old girl
Explanation:
a) Traffic court: a person who wants to dispute a speeding ticket
A Traffic court is court used for the handling of cases regarding traffic cases.
b) Bankruptcy court: a company declaring bankruptcy
A bankruptcy court is a type of federal court that deals with matters relating to bankruptcy.
c) US supreme court: a company that wants to appeal a case involving two different states
The supreme court is the highest federal court having jurisdiction over all federal and state court cases that involve a point of federal law, and original jurisdiction over a narrow range of cases.
d) Family court: a couple getting divorced
The family court us a court to where matters relating to family law are handled.
e) Juvenile court: a crime by a 12-year-old girl
Juvenile Court is a court that deals with under-age defendants who violate any federal, state or municipal law, and any child who is abused, neglected or dependent.
The case and the court that would most likely hold jurisdiction to hear about it
A person who wants to dispute a speeding ticket.Traffic courtA company declaring bankruptcy.Bankruptcy court A company that wants to appeal a case involving two different states.US supreme courtA couple getting divorce.Family courtA crime by a 12-year-old girl.Juvenile courtTherefore,
Traffic court deals with traffic cases.Bankruptcy court settles issues relating to bankruptcyFamily court handles family matters.Juvenile court deals with cases relating to underage childrenUS supreme Court handles issues between states.Learn more about court:
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5. Police became aware of the crawl space because of a
coming from the air vents.
John Wayne facts
Answer:
Assuming this is about John Wayne Gacy, the police became aware of the crawlspace because of a foul odor coming from the air vents.
Which approach to foreign policy involves sending ambassadors to other countries?
Isolation
Diplomacy
Intervention
ImperialismWhich approach to foreign policy involves sending ambassadors to other countries?
Isolation
Diplomacy
Intervention
Imperialism
Answer: The approach to foreign policy that involves sending ambassadors to other countries is Diplomacy
Explanation:
Tony fell and injured himself in a Mega Toy Store. Mega Toy Store is incorporated in Delaware. Tony is a resident of Nevada but was injured in a Mega Toy Store located in Arizona. Mega Toy does not do business in Nevada. If Tony decides to sue Mega Toy Store:
a. he may file the lawsuit in an Arizona state court.
b. he may file the lawsuit in a Delaware state court.
c. he may file the lawsuit in a Nevada state court.
d. Either a or b.
Answer:
he may file a lawsuit in Arizona
Floyd is riding his bicycle down the street while texting on his phone. floyd does not see vivian, a store owner, who is putting magazines out in front of her storefront. he looks up just in time and swerves to miss vivian but knocks her entire magazine rack and newsstand down, totally destroying it. is floyd liable?
Answer:
Yes
Explanation:
Yes, Vivian has a competent loss and lost money.
Indeed, Vivian suffered a legitimate loss and lost money. Yes, liable
What is money?Money is a trade good accepted by general consent as a medium of economic conversation. It is the medium in which prices and values are expressed. It flows from person to person and country to country, making trade, and it is the debt measure of wealth. Money is any good that is widely used and accepted in written accounts involving the transfer of goods and divine service from one person to another.
Maybe doing something very likely to accomplish anything When we are weary, we are all more likely to make mistakes. The bridge could fall down at any time. liable to something is that you are likely to be impacted by it. If you exercise infrequently, you are more likely to get hurt.
Therefore, a legitimate loss and lost money. Yes, liable
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List the advantages of legal convergence. Enumerate obstacles to legal convergence. Enumerate the approaches to legal convergence. List and explain the three strategies currently hoped to accelerate legal convergence. What is legal divergence?
A defendant filed a complaint against a third-party defendant for contribution permitted under federal law for any environmental damages for which the defendant may be found liable. The third-party defendant and the defendant were domiciled in the same state. The third-party defendant filed a motion to dismiss for failure to state a claim upon which relief could be granted. The third-party defendant also submitted affidavits in support of its position, but the court refused to consider them. After taking all well-pleaded facts in the defendant's complaint as true and resolving all doubts and inferences in the defendant's favor, the court denied the motion to dismiss.
Required:
Has the court acted properly in making its ruling?
a. No, because the court lacked subject-matter jurisdiction over the complaint against the third-party defendant.
b. No, because the court failed to consider the third-party defendant's affidavits.
c. Yes, because the court took all well-pleaded facts in the complaint as true and resolved all doubts and inferences in the defendant's favor.
d. Yes, because a third-party defendant cannot file a motion to dismiss for failure to state a claim upon which relief can be granted.
The correct option is (c); Yes, because the court took all well-pleaded facts in the complaint as true and resolved all doubts and inferences in the defendant's favor.
What is third-part defendant?A third-party defendant is a person or entity that the primary defendant sues and adds to the case under the theory that they are accountable to the defendant for all or part of the plaintiff's claim.
For the given case:
The court must accept as true all of the well-pleaded facts in the complaint and resolve any questions and inferences in the complainant's favor before deciding whether to grant a motion to dismiss for failure to establish a claim on which relief can be granted. The complainant in this case is the defendant.Answer option A is erroneous because the third-party defendant's move was a motion to dismiss for failure to state a claim on which relief can be given, not a petition to dismiss for lack of subject-matter jurisdiction. Furthermore, not withstanding the lack of diversity of citizenship, the court has subject-matter jurisdiction over the defendant's contribution complaint since it is based on federal law, even though it may raise the question of lack of subject-matter jurisdiction on its own.B is the incorrect response option. The court may only take into account the claims in the complaint, any exhibits attached to the complaint, and any matters susceptible to judicial notice when deciding whether to grant a motion to dismiss for failure to establish a claim on which relief can be granted. (Remember that for a request for summary judgment, the court could take into account outside information like an affidavit.)Because any party against whom a claim is made may file a motion to dismiss for failure to articulate a claim upon which relief can be given, answer choice D is wrong.To know more about jurisdiction and its types, here
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Describe and explain the difference between politically based and religiously based terrorism; which is more dangerous and why.
Terrorism is defined by political terrorism as "premeditated, politically motivated violence." Religiously motivated terrorism results from human moral standards being heavily influenced by religion belief and practise.
What connection exists between religious fundamentalism and terrorism?Terrorism, which seeks to advance its ideological goal via bloodshed, assassinations, and the instillation of fear in society through a variety of methods of religious fundamentalism.
Which is more risky, and why?Terrorism is influenced by a number of factors, including societal inequality, state economic performance, war and violent conflict, state corruption, and political instability. While pressure can be administered with violence as well as other methods in a religious context, the violent act is sanctified and approved of by the religious organisation.So, it is challenging to compare them based on how harmful they are, but it is obvious that neither is beneficial for an economy.
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which is the most widely used federally illegal drug in the united states?
The most widely used federally illegal drug in the United States is marijuana.
How much is this drug used ?According to the National Institute on Drug Abuse, an estimated 48.2 million people in the United States aged 12 or older used marijuana in 2020. This represents 18.8% of the population aged 12 or older.
Marijuana is a Schedule I drug under the Controlled Substances Act, which means that it has a high potential for abuse and no accepted medical use. However, there is growing evidence that marijuana has potential medical benefits, and several states have legalized marijuana for medical use. In addition, 18 states and the District of Columbia have legalized marijuana for recreational use.
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According to results from the Monitoring the Future survey, when did drug use among young Americans reach its highest level?
Answer:
1970s
[insert text bc Brainly wants at least 20 characters to “explain my answer well.”]
Question: Can Jenifer be held liable for the death of Tara? Why or why not? Is
Bob liable as an accomplice? Why or why not? Use logical reasoning and
evidence.
To determine if Jenifer can be held liable for the death of Tara, we need to consider the concept of causation and legal principles. For Jenifer to be held liable, it must be established that she had a duty of care towards Tara and that her actions or omissions directly caused Tara's death.
Additionally, there must be evidence to prove that Jenifer's actions were negligent or intentional.
If Jenifer had a duty of care towards Tara, such as being her caregiver or responsible for her safety, and she breached that duty through negligent or intentional actions that directly led to Tara's death, then she could be held liable. However, without specific details or circumstances surrounding the case, it is difficult to provide a definitive answer.
As for Bob, if he knowingly assisted or participated in the actions that led to Tara's death, he could be held liable as an accomplice. His level of involvement, intent, and knowledge of the circumstances would need to be examined to determine his liability.
Ultimately, liability in such cases depends on the specific facts, evidence, and applicable laws, which would need to be evaluated by legal professionals to arrive at a conclusive determination.
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1. Critically discuss the investigation and prosecution of on-line child abuse crime in the UK. Your discussion should include a comparison with the investigation and prosecution of on-line child abuse crime in ONE other country.
Marks are awarded for:
• Knowledge of methods of assessing seriousness of on-line child abuse, for example, the COPINE Index and Sentencing Advisory Panel scale.
• Knowledge of key legislation providing for on-line child abuse offences taking account of technological capabilities.
• Ability to critically compare effectiveness of methods for investigating and prosecuting on-line child abuse offences in the UK and ONE other country.
Answer:
I think abuse is bad
Explanation:
honey im not going to write an essay sry I have college to do and IM going to a bts concert sry
Samantha operating a business on her own. Her Taxable income is $120,000 per annum but is expected to grow quickly when planned expansion is undertaken. There are prospects of exporting goods to Asia.
Present operations involve the manufacture and sale of electric goods. About 10 people are employed and most have been with Samantha for over 10 years. Employees are paid over-award wages and are given a lavish Christmas party for themselves and their families each year. At present Samantha pays for the party out of her own funds.
Samantha bought the premises 10 years ago and while the buildings are in good shape, the grounds need attention. A new driveway and landscaping are essential, and installation of a practice and testing area would greatly boost sales. New plant and equipment are needed as much of the existing plant and equipment have been held for over 10 years. It is still in working order and, although written off for tax purposes, has a market value of about $20,000.
Samantha has two inventions which she patented a year ago and these could be quite valuable. A lot of stock which is held could be scrapped as it is holdings of outdated equipment. Samantha and her sales manager need new cars. Debtors amount to $7,500 most of which probably are not collectable.
Samantha has life insurance cover of $30,000 but does not have any superannuation. She is 52 years old and plans to retire at 60. She has a partner who has no separate income. They have four children: a daughter aged 22 attending Harvard Law School, who has no Australian source income and is likely to remain in the USA after graduation next year, a son aged 17 who is about to start an apprenticeship with the business, and twin daughters who are about to start school (which will allow Samantha’s partner to work in the business on a part-time basis).
As a Tax Agent, Samantha comes to you for advice. In particular, Samantha wants to know whether she should incorporate. Prepare a report for Samantha advising her on the implications (tax and otherwise) of incorporating her business. Samantha would like to see in the report at least the following:
(a) a table summarising the advantages and disadvantages (tax and non-tax) of incorporating;
(b) a brief discussion of particular issues, presented under separate headings. Some suggested issues to cover are (Personal income tax, Driveway and landscaping, Trading stock, Costs and deductibility of incorporation, Rate of tax, Method of payment of tax, Long service leave, Fringe benefits tax, Capital gains tax, superannuation, Issue of additional shares, Imputation)
Report on the Implications of Incorporating Samantha's Business .As a tax agent, we have considered Samantha's request for advice on whether she should incorporate her business.
Samantha's Business report will provide a summary of the advantages and disadvantages of incorporating and will also discuss some particular issues related to personal income tax, driveway and landscaping, trading stock, costs and deductibility of incorporation, rate of tax, method of payment of tax, long service leave, fringe benefits tax, capital gains tax, superannuation, issue of additional shares, and imputation.
Advantages and Disadvantages of Incorporating:
The following table summarises the main advantages and disadvantages of incorporating Samantha's business:
Advantages Disadvantages
Limited liability protection Higher initial and ongoing costs
Increased access to capital Additional regulations and reporting requirements
Separate legal entity Double taxation of profits
Easier transfer of ownership Loss of control
Perpetual existence
Particular Issues:
Personal Income Tax:
As a company, Samantha's business will be subject to corporate tax rates, which are currently lower than the personal income tax rates. However, if Samantha takes out profits from the company as a salary or dividend, she will be subject to personal income tax rates, which may be higher than the corporate tax rates. Therefore, she needs to consider the most tax-efficient way of withdrawing profits from the company.
Driveway and Landscaping:
If Samantha incorporates her business, any expenses related to driveway and landscaping would be deductible as a business expense. However, if she does not incorporate, these expenses may not be deductible as they may be considered capital improvements.
Trading Stock:
If Samantha incorporates her business, any obsolete or outdated trading stock can be written off as a tax deduction. However, if she does not incorporate, she may not be able to claim these deductions.
Costs and Deductibility of Incorporation:
Incorporating a business involves various costs, including legal fees, registration fees, and ongoing compliance costs. These costs are generally deductible as business expenses. However, the cost of purchasing shares in the company may not be deductible.
Rate of Tax:
As mentioned earlier, corporate tax rates are generally lower than personal income tax rates. Therefore, incorporating Samantha's business could potentially result in lower tax liabilities.
Method of Payment of Tax:
If Samantha incorporates her business, she will be required to pay company tax in instalments throughout the year. However, if she does not incorporate, she may be able to pay her tax in a lump sum at the end of the financial year.
Long Service Leave:
If Samantha incorporates her business, any long service leave entitlements will be transferred to the company, and the company will be responsible for paying them. However, if she does not incorporate, she will be personally responsible for paying any long service leave entitlements.
Fringe Benefits Tax:
If Samantha incorporates her business, any fringe benefits provided to employees, such as the lavish Christmas party, may be subject to fringe benefits tax. However, if she does not incorporate, she may not be subject to this tax.
Capital Gains Tax:
If Samantha incorporates her business, any assets transferred to the company will be subject to capital gains tax. However, if she does not incorporate, she may be able to claim small business capital gains tax concessions.
Superannuation:
If Samantha incorporates her business, she will be required to set up a superannuation fund for her employees. However, if she does not incorporate, she will not be required to do so.
Issue of Additional Shares:
If Samantha incorporates her business, she will be able to issue additional shares to raise capital. However, this may result in a dilution of her ownership and control of the company.
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