A corporation has organizational costs totaling $$45,000$ in $2022.$ The corporation begins operations on March $1,2022.$ The maximum amount of organizational costs that the corporation can deduct on its $2022$ tax return is:

a$.$ $$3,000.$

b$.$ $$2,500.$

c$.$ $$7,667.$

d$.$ $$7,222.$

e$.$ None of the above.

A corporation distributes property worth $$100,000$ to its sole shareholder. The corporation's adjusted basis in the property is $$60,000.$ The shareholder's adjusted basis in the corporation's stock prior to the distribution is $$25,000.$ At the beginning of the year, the corporation has $E$&$P$ of $$5,000.$ In the current year, $$45,000$ is added to E&P $($before considering the distribution$).$ What amount of dividend income does the shareholder include in gross income from the distribution?

a$.$ $$40,000.$

b$.$ $$$81,600.$

c$.$ $$100,000.$

d$.$ $$60,000.$

e$.$ $$50,000.$

No gain or loss is recognized by either the corporation or the shareholders on the transfer of property to a corporation in exchange for corporate stock as long as after the exchange the transferring shareholders own at least what percentage of the corporation's stock?

a$.50\%$

b$.70\%$

c$.75\%$

d$.80\%$

e$.100\%$

The tax laws limit a publicly traded $C$ corporation's deduction for compensation paid to the CEO to:

a$.$ $$500,000,$ unless the corporation can justify a higher amount.

b$.$ $$1,000,000,$ unless the corporation can justify a higher amount.

c$.$ $$1,500,000,$ unless the corporation can justify a higher amount.

d$.$ $$2,000,000,$ unless the corporation can justify a higher amount.

e$.$ There is no deduction limit for compensation paid to a corporation's CEO.

The due dates for estimated tax payments made by a corporation are the $15$ th day of the:

a$.4$th$,6$th$,9$th$,$ and $12$th months of the corporation's tax year.

b$.3rd,6th,9th,$ and $12$ th months of the corporation's tax year.

c$.4$ th$,6$ th and $9$ th months of the corporation's tax year, plus the $1$ st month of the next tax year.

d$.3rd,6th,9th,$ and $12$ th months of the corporation's tax year.

e$.$ none of the above.