税务处理第 462 / 716 题
In a cross-purchase buy-sell agreement funded with life insurance, the policies are owned by:
a.The individual owners, each on the other owners' lives
b.The business entity itself
c.An outside bank or lender
d.The estate of the deceased owner rather than by the surviving owners
解析
In a cross-purchase arrangement, each business owner buys and owns a life insurance policy on each of the other owners, so that when one dies, the survivors receive proceeds to buy the deceased's share directly from the estate. The business entity does not own the policies (that is an entity or stock-redemption plan), a bank is not involved, and the deceased's estate does not own them. The distinction between cross-purchase and entity plans centers on who owns the policies.
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同考点相关题目
- Premiums paid for a personal life insurance policy are generally:
- For key-person life insurance that a business owns and is the beneficiary of, the federal tax treatment is generally that the:
- Under federal tax rules, employer-paid group term life insurance is income-tax-free to the employee on coverage up to:
- In an entity (stock-redemption) buy-sell plan, the life insurance is owned by:
- An executive bonus (Section 162) plan generally works by having:
- Distributions from a traditional, fully pre-tax qualified retirement plan are:
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审核人 John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — 核实)