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Question
Tutoring Concerns. Wally and Sally want to go into business together and plan on offering a tutoring service to high school and college students. Wally proposes that they share control of the business and split profits equally and not bother with a written agreement. Sally, however, is concerned about being able to pay their debts since they will have to rent tutoring space and purchase computers and supplies. She is also concerned about parents and students who may sue if the students' test scores do not improve. She tells Wally that she just bought a new boat and car, and that she does not want her assets to be in jeopardy. She tells Wally that they should form a corporation to shield their personal assets. Wally, however, says their personal assets are not in danger with his proposal because they are a business and that, furthermore, forming a corporation would likely result in double taxation. Is Wally correct that forming a corporation would likely result in to double taxation?
A. Yes, because the corporation would be required to pay tax on its profits, and the shareholders would also be required to pay taxes on dividends.
B. No, Wally is incorrect because all businesses are taxed in the same manner.
C. No, Wally is incorrect but only because the law involving taxation of corporations does not apply until there are at least 10 shareholders.
D. No, Wally is incorrect but only because the law involving taxation of corporations does not apply until there are at least 75 shareholders.
E. Yes, Wally is correct but only because his proposal does not involve a writing and the filing of paperwork with the secretary of their state.
Answer
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Related questions
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Which is not an intention tort against one's economic interest?
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B. Intentional interference with a contract
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Under which of the following situations does the tort of trespass to realty occur?
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B. When a person stays on the land of another when the owner tells him to depart.
C. When a person refuses to remove something he placed on the property that the owner of the property asked him remove.
D. When a person causes an object to be placed on the land of another without the landowner's permission, when a person stays on the land of another when the owner tells him to depart, and when a person refuses to remove something he placed on the property that the owner of the property asked him remove.
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Which of the following gives immunity to providers of interactive computer services for liability they might otherwise incur on account of material disseminated by them but created by others?
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Set forth the steps involved in formal rule making.
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DUI Charge. Monique was licensed to train massage therapists. A new federal agency, the Aesthetic and Massage Commission, took very seriously its role of enforcing the statute enabling the Commission to do its work and providing that licensed massage therapists must refrain from "any act or conduct indicating bad faith, incompetence, dishonesty, or improper dealing." Monique, while driving home late one night from a party, was stopped by the police and arrested for driving under the influence of alcohol. She pled guilty to the offense. When the Aesthetic and Massage Commission discovered the offense, the officials of the agency met, decided that Monique might drink on the job, and that she might pose a danger to students. Accordingly, her license to teach massage therapy was revoked. Monique threatened to sue to retain her license and was told by the agency head that she had no right to appeal to court because of the nature of the Aesthetic and Massage Commission and that in any event, action by an agency is always upheld. Which of the following would have reached the decision at her hearing before the administrative agency?
A. An adjudicative law judge
B. An administrative law judge
C. A federal court judge
D. A superior court judge
E. A jury
Q:
DUI Charge. Monique was licensed to train massage therapists. A new federal agency, the Aesthetic and Massage Commission, took very seriously its role of enforcing the statute enabling the Commission to do its work and providing that licensed massage therapists must refrain from "any act or conduct indicating bad faith, incompetence, dishonesty, or improper dealing." Monique, while driving home late one night from a party, was stopped by the police and arrested for driving under the influence of alcohol. She pled guilty to the offense. When the Aesthetic and Massage Commission discovered the offense, the officials of the agency met, decided that Monique might drink on the job, and that she might pose a danger to students. Accordingly, her license to teach massage therapy was revoked. Monique threatened to sue to retain her license and was told by the agency head that she had no right to appeal to court because of the nature of the Aesthetic and Massage Commission; and that, in any event, action by an agency is always upheld. Which of the following is true regarding the statement of the agency that Monique had no right to appeal to court?
A. The agency representative was wrong; and if Monique cannot resolve the issue within the agency, she may appeal to court for judicial review.
B. Because the agency was set up to protect the safety of the public, the agency representative is correct unless Monique can establish that she entered into a separate contractual arrangement with the agency when she was hired that gave her the right to appeal decisions to court.
C. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an independent agency may be appealed to court, actions of an executive agency may not be appealed to court.
D. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an executive agency may be appealed to court, actions of an independent agency may not be appealed to court.
E. Because the agency was set up to protect the safety of the public, the agency representative is correct; and Monique has no right to a court action and no right to enter into a contractual agreement with the agency regarding appeal rights.