Question
Which of the following are requirements to be an S corporation? a. Limited to an absolute maximum of 100 shareholders. b. Has no resident alien
Which of the following are requirements to be an S corporation?
a. Limited to an absolute maximum of 100 shareholders.
b. Has no resident alien shareholders.
c. Has only one class of stock.
d. May have no straight debt.
e. Cannot have any earnings and profits (E & P).
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Answer c Has only one class of stock Explanation S corporations are corporations that elect to pass ...Get Instant Access to Expert-Tailored Solutions
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South-Western Federal Taxation 2018 Comprehensive
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
41st Edition
1337386006, 978-1337386005
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