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CPA: REG: Taxation of Related Corporations Test

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3 Written Questions

2 Multiple Choice Questions

  1. Limited to one set of corporate tax brackets
    One alternative minimum tax exemption and one accumulated earnings credit
    Intercompany losses are treated as related party sales
  2. Corporations related through intercorporate ownership, can elect to file consolidated return

2 True/False Questions

  1. Total Control Test - Brother/Sister 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. Tests for Controlled Groups - Brother/SisterTotal control
    Common ownership

          

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