Nontax factors that affect the choice of business entity that should be chosen Include Ease Of Capital Formation O False True QUESTION 10 Byrd and Falls each own one-half (1/2) of the stock of Phillips Corporation, a Regular (Corporation. Each shareholder has an adjusted basis in her stock of $100,000. Phillips Corporation has Accumulated Earnings And Profits (ESP) of $500,100. Phillips Corporation's Taxable income for the current year is $80,000 and it distributes $50,000 to each shareholder. Byrd's basis in her stock at the end of the year is $100,000 True False