I:16-12 The personal holding company tax imposes a penalty on corporations. a. What is the purpose of

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I:16-12 The personal holding company tax imposes a penalty on corporations.

a. What is the purpose of the personal holding company tax?

b. Two tests are used to classify a corporation as a personal holding company. What are these tests, and how do they serve the purpose of the personal holding company tax?

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Umm E Habiba

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