quiz 11B

quiz 11B - 1. (T/F) A multiple member limited liability...

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1. (T/F)  A multiple member limited liability company may not be an S corporation, if  it checks the box under Regulations 301.7701-3 to be treated as a corporation. Response: FALSE Answer: FALSE  Points: 1 / 1 2. (T/F)  An S corporation may own 100% of the stock of another corporation, but  only if the parent elects to treat the subsidiary as a (Qualified Subchapter S  Subsidiary QSub). Response: FALSE Answer: FALSE  Points: 1 / 1 3. (T/F)  The Qualified Subchapter S Trust (QSST) rules allow certain trusts to be  shareholders in S corporations. Among the requirements for a QSST is that the  fiduciary must have no powers to distribute corpus to any person other than the  current income beneficiary, during that beneficiary's lifetime. Response: TRUE Answer: TRUE  Points: 1 / 1 4. (T/F)
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quiz 11B - 1. (T/F) A multiple member limited liability...

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