Which of the following does NOT create a permanent book-tax difference?
A)Organizational and start-up expenses.
B)Entertainment expenses.
C)Fines and penalties expenses.
D)Municipal bond interest income.

Question

Quizplus · Accepted Answer

Organizational and start-up expenses do not create a permanent book-tax difference because they can be deducted over time for tax purposes, aligning the book and tax treatments over the period of amortization.

Which of the Following Does NOT Create a Permanent Book-Tax