Ms. Penser resides in the city of Lanock, Tennessee. She owns 100% of the stock of PSW Inc., which is incorporated under Tennessee law and conducts business in six different local jurisdictions in Tennessee.
A. How many taxpayers are identified in the above statement of facts?
A. Ms. Penser is an individual taxpayer, and PSW Inc. is a corporate taxpayer. The city of Lanock, the state of Tennessee, and the United States have jurisdiction to tax Ms. Penser.
B. Identify the governments with jurisdiction to tax each of these taxpayers.
B. The six local jurisdictions, the state of Tennessee, and the United States have jurisdiction to tax PSW Inc.

Question

Quizplus · Accepted Answer

The Answer of Ms. Penser resides in the city of Lanock, Tennessee. She owns 100% of the stock of PSW Inc., which is incorporated under Tennessee law and conducts business in six different local jurisdictions in Tennessee.
A. How many taxpayers are identified in the above statement of facts?
A. Ms. Penser is an individual taxpayer, and PSW Inc. is a corporate taxpayer. The city of Lanock, the state of Tennessee, and the United States have jurisdiction to tax Ms. Penser.
B. Identify the governments with jurisdiction to tax each of these taxpayers.
B. The six local jurisdictions, the state of Tennessee, and the United States have jurisdiction to tax PSW Inc.

Ms Penser Resides in the City of Lanock, Tennessee