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Y corporation manufactures computer processors and is incorporated in North Carolina. Its only factory, which employs 350 people, is located in Fayetteville, North Carolina. One of the processors has a defect where it squirts arsenic through a computer's fans and into an unsuspecting user's coffee. The user (domiciled in South Carolina) drinks the coffee and gets seriously ill. She sues Y corporation in federal court for damages in excess of $75,000. Y corporation files an affidavit saying that its headquarters is in Columbia, South Carolina. It is renting out a building that has a headquarters sign in front of it. Jurisdictional discovery reveals that its high ranking officials do most of their work in an office building next to the Fayetteville, North Carolina factory. They go to the Columbia, South Carolina office once a year for an annual corporate retreat. Can Y corporation get the federal court to dismiss for lack of diversity jurisdiction? Be able to point to specific language in the opinion to justify your answer.A.Yes because both it and the plaintiff are South Carolina citizens.B.Yes because its principal place of business is in South Carolina.C.No because there is complete diversity.D.No because the plaintiff chose federal court.

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WCC Corp. has a $100,000 net operating loss carryover into 2020. Assume that it reported $75,000 of taxable income in 2020 (before the net operating loss deduction) and $30,000 of taxable income in 2021 (before the net operating loss deduction).a. What is WCC's taxable income in 2020 and 2021 (after the net operating loss deduction), assuming the $100,000 NOL carryover originated in 2016?b. What is WCC's taxable income in 2020 and 2021 (after the net operating loss deduction), assuming the $100,000 NOL carryover originated in 2019?c. Assuming the $100,000 NOL carryover originated in 2019, what is WCC's book-tax difference associated with the NOL in 2020 and in 2021 and identify the book tax difference for each year as permanent or temporary?
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