過去問 Estates, Trust & Exempt Organizations ３

Hope is a tax-exempt religious organization. Which of the following activities is (are) consistent with Hope's tax-exempt status?

I. Conducting weekend retreats for business organizations.
II. Providing traditional burial services that maintain the religious beliefs of its members.

a.               I only

b.               II only

c.                Both I and II

d.               Neither I nor II

6803

Solution　b

IはReligeonの匂いがしない。

If an exempt organization is a corporation, the tax on unrelated business taxable income is

a.               Computed at corporate income tax rates.

b.               Computed at rates applicable to trusts.

c.                Credited against the tax on recognized capital gains

d.               Abated.

4163

Solution　a

通常の企業の税率が適用される。

Help Inc., an exempt organization, derived income of $15,000 from conducting bingo games. Conducting bingo games is legal in Help's localiy and is confined to exempt to organizations in Help's state. Which of the following statements is true regarding this income?

a.               The entire $15,000 is subject to tax at a lower rate than the corporate income tax rate.

b.               The entire $15,000 is exempt from tax on unrelated business income.

c.                Only the first $5,000 is exempt from tax on unrelated business income.

d.               Since Help has unrelated business income, Help automatically forfeits its exempt status for the current year.

4165

Solution　b

Bingo Gameは非課税。

An incorporated exempt organization subject to tax on its current year unrelated business income

a.               Must make estimated tax payments if its tax can reasonably be expected to be $100 or more.

b.               Must comply with the Code provisions regarding installment payments of estimated income tax by corporations.

c.                Must pay at least 70% of the tax due as shown on the return when filed, with the balance of tax payable in the following quarter.

d.               May defer payment of the tax for up to nine months following the due date of the return.

1717

Solution　b

通常の税率が適用されるし、Estimationを払っていかなければならない。

Which of the following statements is correct regarding the unrelated business income of exempt organizations?

a.               If an exempt organization has any unrelated business income, it may result in the loss of the organization’s exempt status.

b.               Unrelated business income relates to the performance of services, but not to the sale of goods.

c.                An unrelated business does not include any activity where all the work is performed for the organization by unpaid volunteers.

d.               Unrelated business income tax will not be imposed if profits from the unrelated business are used to support the exempt organization’s charitable activities.

4476

Solution　c

Unpaid volunteerがやった分はIncludeしない。

Which one of the following statements is correct with regard to unrelated business income of an exempt organization?

a.               An exempt organization that earns any unrelated business income in excess of $100,000 during a particular year will lose its exempt status for that particular year.

b.               An exempt organization is not taxed on unrelated business income of less than $1,000.

c.                The tax on unrelated business income can be imposed even if the unrelated business activity is intermittent and is carried on once a year.

d.               An unrelated trade or business activity that results in a loss is excluded from the definition of unrelated business.

5036

Solution　b

1,000ドル以下は非課税。

Which of the following situations would cause a resulting trust to be created?

I. Failure of an express trust
II. Application of the cy pres doctrine
III. Fulfillment of the trust purpose

a.               I and II

b.               I and III

c.                II and III

d.               I, II, and III

3087

Solution　b

Resulting Trust ＝ Beneficiary が他界して、Set-upしたTrustを受け取る人がいなくなる。Express Trust がFailureして結果的に残ってしまった資産（Setterに戻る。）がResulting Trust。

Which of the following parties is necessary to create an express trust?

	A remainderman	A successor trustee
a.	Yes	Yes
b.	Yes	No
c.	No	Yes
d.	No	No

6504

Solution　d

Express Trust をCreateするには、４つ必要。

Settler、Trustee、Trust Property、Beneficiary。

Remainderman やSuccessor Trustee はいらない。

An irrevocable trust that contains no provision for change or termination can be changed or terminated only by the

a.               Courts

b.               Income beneficiaries

c.                Remaindermen

d.               Grantor

5345

Solution　a

終わらせることが出来るのは、唯一裁判所だけ。

Arno plans to establish a spendthrift trust naming Ford and Sims as life income beneficiaries, Trip residuary beneficiary, and Bing as trustee. Arno plans to fund the trust with an office building.

Assume an enforceable trust was formed. Sims has the following personal creditors:

I. Bank holding a home mortgage note deficiency judgment
II. Judgment creditor as a result of an automobile accident
To which of these creditors can Bing pay Sims' share of trust income?

a.               I only

b.               II only

c.                Both I and II

d.               Neither InorII

3985

Solution　d

Spendthrift Trust をCreateすると、Beneficiary が勝手に売却したり、担保にしてお金を借りたりできない。

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