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R.A 9003 Institute measure to promote a more acceptable system which corresponds to the vision of sustainable development

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In 1980, an airplane from Cheapo Airlines realized too many passengers were aboard (which meant it was violating federal regulations) when it was in the air. The flight attendants randomly chose one passenger, Achilles, and threw him overboard with an experimental jetpack and told him to keep flying until he found land. Achilles went on about his life for many years, but the incident was always in the back of his head. In 2020, he sued Cheapo Airlines in North Carolina federal district court for intentional infliction of emotional distress under North Carolina law. The statute of limitations in North Carolina is four years. The federal page limit is 25 pages, but the North Carolina page limit is 30 pages. Cheap Airlines removed to federal court, filed a 12(b)(6) motion, and argued that there was no intentional infliction of emotional distress because getting to ride a jetpack is fun for the first 25 pages. On page 26, it argued that the court had to dismiss because the statute of limitations had expired. The district court refused to consider the argument because it read only the first 25 pages, denied the motion to dismiss the complaint, and Achilles won at trial. On appeal, Cheapo Airlines argues that the statute of limitations precludes Achilles from winning and that under York, the district court should have applied the North Carolina page limit. True or false, under York, the appeals court will apply North Carolina's page limit?
At the beginning of 2015, Tate Corp. has E & P of $30,000. During 2015 the corporation generates $10,000 of additional E & P. On the last day of the tax year, the corporate distributes $35,000 to its sole shareholder, Tom, whose stock basis is $15,000 before the distribution. Which of the following statements is true?a)John recognizes $30,000 of dividend income.b)John's stock basis is now $0.c)Tate Corp.'s E & P balance is now $5,000.d)John recognizes a taxable gain of $20,000.
The 1231 look back rule applies whether there is a net gain or loss

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