As a rule non-profit, non-stock corporations are exempt from income…

Question Answered step-by-step As a rule non-profit, non-stock corporations are exempt from income… As a rule non-profit, non-stock corporations are exempt from income tax. which of these non-profit entities is subject to income tax?AssociationschoolFarmers’ cooperativehospital The exemption of non-profit corporations specifically pertains to income from:related partiesunrelated activitiesrelated activitiesboth related and unrelated activities A domestic corporation is taxable on:World taxable incomeWorld gross incomePhilippine taxable incomePhilippine gross income A resident foreign corporation is taxable on:World taxable incomeWorld gross incomePhilippine taxable incomePhilippine gross income Benguet State University, a public educational institution, is:Subject to income tax at preferential rateSubject to income tax at the regular rateSubject to both regular and preferential income taxExempt from corporate income tax. Generally, private proprietary educational institutions are:Subject to preferential income taxSubject to regular income taxSubject to both regular and preferential income taxesExempt from income tax A non-resident foreign corporation is:Subject to 25% tax on taxable incomeSubject to 30% on gross incomeNot subject to 25% tax on gross incomeNever subject to 25% tax on gross income abroad A domestic corporation having a total asset of more than P100,000,000 excluding the land on which its office is located and a net taxable income of less than P5,000,000 is subject to:20% tax on net taxable income20% tax on gross income25% tax on net taxable income25% tax on gross income Which of these concepts is not relevant to corporations?exclusiongross incomedeductionPersonal exemption The preferential tax rate of 1% on taxable income applies to:Proprietary hospitalProprietary schoolnon-profit schoolnon-profit association Business Accounting BLT tax 1-2 Share QuestionEmailCopy link Comments (0)