NAME: ________________________

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3 Written Questions

2 Multiple Choice Questions

  1. Corporations related through intercorporate ownership, can elect to file consolidated return
  2. The five common shareholders must own in aggregate 80% or more of the stock of each corporation within the group for certain tax provisions

2 True/False Questions

  1. Tax Consequences of Being a Controlled GroupThe five common shareholders must own in aggregate 80% or more of the stock of each corporation within the group for certain tax provisions

          

  2. Affiliated Group RequirementsOne corporation (parent) owns 80% or more of stock of the subsidiary
    Once a parent and subsidiary exist, related corporations can be included if total ownership by corporations in the group rises to 80 percent or more

          

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