Bishop contributes undeveloped land to a business entity in January for a 40% ownership interest. Bishop's basis for the land is $140,000, and the fair market value is $600,000. The business entity was formed three years ago by Petula and Rene, who have equal ownership. The entity is successful in getting the land rezoned from agricultural to residential use, but the owners decide to sell the land so that the entity can invest in another project. In August, the land is sold for $650,000. Determine the tax consequences of the sale of the undeveloped land for the business entity and the three owners if the entity is organized as: a. A C corporation:

This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?

Match the different taxes to the levels at which these taxes are levied on consumers and businesses national level/ national and local levels 1.sales tax 2.income tax 3.payroll tax 4.social security tax 4.property tax