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3 July, 12:41

Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each of the three shareholders holds 130 shares in the company. Under the §318 stock attribution rules, how many shares of Lansing stock is DeWitt Corporation deemed to own?

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  1. 3 July, 14:14
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    The answer is: 390 stocks

    Explanation:

    The §318 stock attribution rules stipulates that a person owns what their spouse, children, grandchildren, or parents own. This means that DeWitt Corporation (since Jennifer owns 50%) owns its 130 stocks plus Jennifer's 130 stocks and Dan's 130 stocks. So DeWitt basically owns all of Lansing Corporation according to the §318 stock attribution rules. That doesn't mean that Jane owns half of Lansing though.
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Home » Business » Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each of the three shareholders holds 130 shares in the company.
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