Multiple Choice
Which of the following characteristics can disqualify a corporation from S Corporation status?
A) A corporation has nonresident aliens as shareholders.
B) One of the corporation's shareholders is an estate.
C) A corporation has 101 shareholders including a husband and wife.
D) A corporation has voting and nonvoting stock,but both types of stock confer identical rights to distribution and liquidation proceeds.
Correct Answer:
Verified
Correct Answer:
Verified
Q35: Felicia contributes property with a FMV of
Q36: Ariel receives from her partnership a nonliquidating
Q43: Ezinne transfers land with an adjusted basis
Q65: Realto LLC is a tax partnership which
Q74: An LLC that elects to be taxed
Q78: Pass-through entities are taxed at only one
Q96: A liquidating distribution is treated as a
Q123: A partnership may elect to use a
Q137: All the following are types of pass-through
Q1958: Explain the difference between expenses of organizing