Which of the following statements regarding income tax commercial domicile is incorrect?
A)The location where a business is headquartered.
B)The location where a business is incorporated.
C)The location from which a business directs its operations.
D)None of the choices are correct.

Question

Quizplus · Accepted Answer

Commercial domicile refers to the location from which a business directs its operations for income tax purposes. It is different from the state or country where a business is incorporated or headquartered. Therefore, statement B, which states that commercial domicile is the location where a business is incorporated, is incorrect.

Which of the Following Statements Regarding Income Tax Commercial Domicile