Which of the following excise taxes are imposed on private foundations?
A) Tax on failure to distribute income.
B) Tax on excess business holdings.
C) Tax on excess charitable contributions.
D) Only a. and b.
E) a., b., and c.

Question

Quizplus · Accepted Answer

Excise taxes imposed on private foundations include tax on failure to distribute income (a) and tax on excess business holdings (b). Tax on excess charitable contributions (c) is not imposed on private foundations, but rather on individual donors who make excessive contributions to a private foundation or public charity.

Which of the Following Excise Taxes Are Imposed on Private