Word count: 962. AS LAW -JUDICIAL PRECEDENT 4 star(s) The judgement can be divided into two areas; Ratio Decidendi which is the reason behind the decision. This is part of the judgement that sets out the core of the decision and the reason behind it. It is part of a decision which a future case must be decided by.
Prizes are considered taxable income regardless of whether the prize is in the form of cash, trips or merchandise. If you win a prize valued over $600, the sweepstakes or contest sponsor must report the value to you and the Internal Revenue Service on a Form 1099-MISC.Youâre still supposed to report and pay tax on prizes under $600.f you win a prize valued over $600, the sweepstakes or contest sponsor must report the value to you and the Internal Revenue Service on a Form 1099-MISC. Youâre still supposed to report and pay tax on prizes under $600.
$ 20,000Because deducting 80% of the dividends received would not produce a taxable loss ($100,000 â $96,000= $4,000 taxable income), the taxable income limit would apply and the corporationâs DRD equals$80,000 (the lesser of (i) 80% Ã $120,000 or (ii) 80% of $100,000). Â¶1402.06.b.