A taxpayer owns and rents some acres of agricultural land as follows during 2021: marks) Characteristics...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A taxpayer owns and rents some acres of agricultural land as follows during 2021: marks) Characteristics Acres Owns 15 acres 10 Rents Owns Rents Owns Owns acres 12 acres 8 acres 4 acres Crops Ordinary crops Fruit garden Medical plants Ordinary crops Nursery plant for sale 30 Productive desert acres land since 2015 (10 Rental Value & tax Land Rental Value L.E 300 per acre Land tax L.E 63 per acre. Land tax L.E 49 per acre. Total rental value L.E 5000 Rental value L.E 500 per acre Total land tax L.E 2100 Required: Determine tax bracket on March 2021 for revenues of real estate wealth in accordance of tax law 91/2005 A taxpayer owns and rents some acres of agricultural land as follows during 2021: marks) Characteristics Acres Owns 15 acres 10 Rents Owns Rents Owns Owns acres 12 acres 8 acres 4 acres Crops Ordinary crops Fruit garden Medical plants Ordinary crops Nursery plant for sale 30 Productive desert acres land since 2015 (10 Rental Value & tax Land Rental Value L.E 300 per acre Land tax L.E 63 per acre. Land tax L.E 49 per acre. Total rental value L.E 5000 Rental value L.E 500 per acre Total land tax L.E 2100 Required: Determine tax bracket on March 2021 for revenues of real estate wealth in accordance of tax law 91/2005
Expert Answer:
Answer rating: 100% (QA)
According to the information provided Total rental value from ren... View the full answer
Related Book For
Taxes And Business Strategy A Planning Approach
ISBN: 9780132752671
5th Edition
Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon
Posted Date:
Students also viewed these law questions
-
Data concerning Cranur Architects Corporation's two major business lines are given below: Check my w Direct natorials per square metre Direct labour per squaro netre Direct labour-hours par square...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
A taxpayer owns and operates an art gallery with a large inventory of paintings held for sale to customers. She took one of the paintings home and hung it in her dining room. A week later, a dinner...
-
The Home Depot, Inc. (HD) operates over 2,200 home improvement retail stores and is a competitor of Lowe's (LOW). The following data (in millions) were adapted from recent financial statements of The...
-
Poke a hole in a piece of paper, hold it in sunlight so that the solar image is the same size as a coin on the ground, and then determine how many coins would fit between the ground and the pinhole....
-
The US Food and Drug Administration has a limit for mercury content in fish of 1.0 ppm (parts per million), while in Canada the limit is 0.5 ppm. Use the variable Avg- Mercury in the FloridaLakes...
-
What difference do you see between payment of dividends and capital reduction?
-
The client prepared the following worksheet listing all activities in the marketable securities account for the year under audit. For purposes of this question, you may assume that there are no...
-
4. The highest priority for wildfire management officials is to preserve a. natural resources. b. infrastructure. c. buildings and structures. d. human life.
-
You have been assigned to analyze the year-end inventory of Dynomil Company. This company sells three items of inventory and tracks of the average purchase cost and average selling price each month....
-
Joe has provided you with the following fixed asset schedule and needs some assistance with the calculation of depreciation expense and accumulated depreciation for 2021. Required: 1. Calculate...
-
Write a five-paragraph persuasive essay of 750-1,000 words.Topic is NEUCLEAR ENERGY The essay-writing process is broken down into seven parts. Each part will be due in a different topic and graded...
-
Synthesize information about the mere-exposure effect theory. Thereby expanding your understanding of how to structure and order messages. The assignment fits the module learning outcome where...
-
1. Engineering economics plays a crucial role in the manufacturing industry, where it focuses on the financial aspects of engineering projects. (a) How can the application of simple and compound...
-
Consider the function f(x)=x-6x +36x. Use the first derivative test to find the interval(s) where the function is INCREASING.
-
BMW Inc. adds materials at the start of the process. The following information is available for the month of December 2012: Work-in-process, 12/1/2012 (35% completed as to conversion cost) 700 Units...
-
Read the posts of your peers below and respond.Expand the discussion by asking or answering a question, offering an alternative perspective, or sharing a resource. Peer 1 Provide an example of a way...
-
The cost curve for the city water supply is C(Q) = 16 + 1/4 Q2, where Q is the amount of water supplied and C(Q) is the cost of providing Q acre-feet of water. (An acre-foot is the amount of water...
-
Why is it important for the tax planner to know the tax consequences of a particular transaction not only to the entity employing the tax planner but also to the other party (or parties) to the...
-
Suppose a firm has a tax loss in the current period of $10 million, which when added to prior tax losses gives it an NOL carry forward of $15 million. The top statutory tax rate for the foreseeable...
-
If you were advising the founders of a new Internet-based business, what would you tell them about the benefits of using a conduit organizational form to operate their business?
-
The finance director of Toy plc has been asked by a shareholder to explain items that appear in the current cost income statement for the year ended 31.8.20X9 and the balance sheet as at that date:...
-
Raiders plc prepares accounts annually to 31 March.The following figures, prepared on a conventional historical cost basis, are included in the companys accounts to 31 March 20X5. The inventory held...
-
The balance sheets of Parkway plc for 20X7 and 20X8 are given below, together with the profit and loss account for the year ended 30 June 20X8. 1 The freehold land and buildings were purchased on 1...
Study smarter with the SolutionInn App