PLEASE SEE BELOW 8 QUESTIONS. ALL ANSWERS MUST BE ORIGINAL AND MINIMUM OF 100 WORDS:

1.

You may consider explaining how the Minimum Tax Credit works for the alternative minimum tax. Here we are dealing with corporations.

2.

Why would a corporation with five shareholders owning 100% of a corporation's stock have concern if the corporation is a personal holding company?

How do the shareholders avoid this tax -- what steps can they take at the corporate level?

3.

MOO INC gets audited for its 2012 tax return in 2015. The company has an accumulated earnings issue. The Treasury says the corporation owes an additional $50,000 tax due to accumulated earnings.

What is accumulated earnings?

4.

Question on Alternative Minimum Tax ("AMT")

Say, we have a corporation operating for several years. This year the corporation has $4 Million Revenue. For the last three years, the corporation had over $7.5 Million Revenue.

Does this corporation fall into the alternative minimum tax exemption or does it still have to check to see if it has an AMT issue?

5.

-- Looking at state corporate income tax --

Why do states call this state tax on corporations a franchise tax?

6.

Macie has a 25% membership interest in a LLC operating in California. The LLC files as a tax partnership. Macie is a passive investor here and gets a return from the LLC based on the capital she invested in the LLC. The LLC only operates in California. Macie lives in Jackson Wyoming and has no connection to California.

Macie received a K-1 this past year allocating $250,000 distribute share income to her. Macie also received $150,000 cash distribution from the LLC.

Do you think Macie has to file a California state tax return relating to this LLC why or why not?

7.

What does the term mean: minimal connection between the company's interstate activities and the taxing state?

8.

What do we mean by the term 'Nexus' as it relates to state sales tax?