Quizzes > Chapter 8 Assignment Business Organization..aralegals, 7th Edition AA Q W www.tannedfeet.com www.hg.org (The site HG.org is a broad-based legal research center. Select "Business.") Glossary of www.investordic- financial tionary.com terms: Discussion Questions 1. What is the primary advantage and disadvan tage of the corporate form? Back to page 772 Page 851 Last page in this chapter 8 .... atv 4Business Organization..aralegals, 7th Edition AA Q N 2. Office Supplies, Inc. is a corporation incorpo rated in Florida. It has 20 shareholders, all of whom are active in operating the business. a. The corporation would like to expand into Georgia to open up a new store. May the corporation do so? b. In which state is the corporation a domestic corporation, and in which state is it a for- eigncorporation? c. May the corporation purchase stock in Office Depot, Inc.? d. If the corporation would like to operate informally and dispense with holding annual meetings, what corporate form might it elect Back to page 772 Page 852 1 page left in this chapter APR 8 atv 4Organization..aralegals, 7th Edition AA Q W to operate as? Are there any disadvantages in operating in such a form? e. What is the advantage of establishing cer- tain benefit plans for the corporation's employees? f. How can the corporation avoid or minimize the effects of double taxation? Net Worth 1. Access www.investordictionary.com. Briefly, give the definition of "corporation." Back to page 772 Page 853 Last page in this chapter APR 3 8 .... astv 4 C2. Access www.tannedfeet.com. Select the infor- mation relating to C corporations. For a start- up, what are the most important characteris- tics of a corporation? 3. Review the provisions of the Internal Revenue Code relating to Section 1202 stock. May a taxpayer qualify for the special tax treatment provided by this section if he or she holds stock in an S corporation? Provide your answer and give the citation to the specific subsection that governs your answer. Back to page 772 Page 854 1 page left in this chapter APR 8 as tv S