Business, 18.02.2020 20:57 patriciamelton57
Sparrow Corporation would like you to review its employee fringe benefits program with regard to the tax consequences of the plan for the company's president (Polly), who is also the majority shareholder. The company owns a parking garage that is used by customers, employees, and the general public. Only the general public is required to pay for parking. The charge to the general public for Polly's parking for the year would have been $3,600 (a $300 monthly rate). How much must Polly include in her gross income?
a. $300
b. $600
c. None of these
d. $3600
e. 400
Answers: 3
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