Respuesta :
Answer:
e
Explanation:
Non of these are correct
The corporate level is where c corporations first pay tax. Taxes are not paid on every dollar earned. Instead expenses made as operating expenses are deducted by c corporations from revenues, reducing the taxable income of the business.
Also, in a C Corporation, shareholders get taxed if the company distributes dividends to them. When the corporation pays dividends, shareholders pay tax on these dividends. This causes double taxation on some shareholders. if a C Corporation makes profit and dividends are distributed to shareholders then there will be cases of double double taxation.
Answer:
e. None of these
Explanation:
Let's list the use of option a to e
Schedule M-1 are been use to reconcile net income been calculated for financial accounting reasons with income taxable reported on the corporation’s tax return. Schedule M-2 is been use to reconcile starting unappropriated kept earnings with finishing unappropriated kept earnings (that's for option a.). We know that Form 1120 is the meant for tax return for a C corporation. While Form 1120 S is meant for the the tax gain for an S corporation (that's for option b.). An automatic increasemeant of six(6) months(five months in the case of a calendar year corporation) is available by registering a timely Form 7004 for (the option c) while corporation having assets amounting to $10,00,000 or more than that are expected to fill the schedule M-3 form( which is option c)
Seeing all the explanation of the other options, no one matches the answer so option e is the answer
