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Charlie is the owner of an S corporation and knows that S corporations cannot have more than 5 0 shareholders. Including minority investors, shareholders including

Charlie is the owner of an S corporation and knows that S corporations cannot have more than 50 shareholders. Including minority investors, shareholders including Charlie will total 53. Nevertheless, Charlie is not concerned because the minority shareholders include multiple family members that will only count as one shareholder for S corporation purposes. Charlies understanding is correct, true or false?

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