On July 20, 2012, Lilac Corporation purchased 25% of the Coffee Corporation stock outstanding. Lilac Corporation purchased

Question:

On July 20, 2012, Lilac purchased 25% of the Coffee stock outstanding. Lilac purchased an additional 40% of the stock in Coffee on March 22, 2013, and an additional 20% on May 2, 2013. On September 23, 2013, Lilac purchased the remaining 15% of Coffee stock outstanding. For purposes of the § 338 election, on what date does a qualified stock purchase occur? What is the due date for making the § 338 election?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...