Explore BrainMass
Share

Sample Taxation Questions

1. Which of the following entity types cannot NOT become a 501(c)(3)?

a. A Delaware LLC
b. A Partnership
c. An Illinois Corporation
d. A Charitable Trust

2. Which of the following is most likely true about an Unincorporated Association that was a 501(c)(3)?

a. It was formed by filing its Charter with the applicable Secretary of State
b. It will be taxed like a partnership
c. It cannot qualify as a public charity
d. Its actors have more exposure for potential personal liability (as compared to actors of a corporate entity)

3. Which of the following entity types is LEAST likely to be required to submit organizational documents with its Secretary of State?

a. A Trust
b. An LLC
c. A Corporation
d. Each of the above entity types is typically required to submit its organizational documents with its Secretary of State

© BrainMass Inc. brainmass.com June 22, 2018, 8:20 pm ad1c9bdddf

Solution Preview

Dear Student,

Thank you for using BM.
Below are my answers.

Sincerely,
Anna Liza Gaspar

ANSWERS
Question 1: d. A Charitable Trust
Organizations described in section 501(c)(3) are ...

Solution Summary

This solution provides answers to various sample taxation questions.

$2.19