Question
Jake and 125 of his close friends want to form an S corporation. Jake reasons that if he and his friends form a partnership, the
Jake and 125 of his close friends want to form an S corporation. Jake reasons that if he and his friends form a partnership, the partnership can then establish an S corporation and act as a single shareholder, thereby avoiding the 100 shareholder rule. Will Jakes plan work? Why or why not?
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Accounting An Introduction
Authors: Eddie McLaney, Peter Atrill
2nd Edition
0273655507, 978-0273655503
