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3 Written questions

2 Multiple choice questions

  1. Corporations related through intercorporate ownership, can elect to file consolidated return
  2. One 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

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. Controlled GroupsParent must own at least 80% of subsidiary