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27 January, 08:13

Which of the following corporations is allowed to make an S corporation election? a. A U. S. corporation owned by a Brazilian corporation. b. A U. S. owned and operated corporation with 7,000 separate shareholders. c. A U. S. corporation owned and operated by two U. S. citizens (individuals). d. None of these choices could be an S corporation.

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  1. 27 January, 10:21
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    The following corporations is allowed to make an S corporation election is a U. S. corporation owned and operated by two U. S. citizens (individuals).

    Option C

    Explanation:

    A Controlled Foreign Corporation (CFC) is a U. S. corporation which has 50 percent or more of its control overseas with U. S. shareholders. You have to report your income from the foreign corporation, and of course, pay tax on that income if you are a U. S. shareholder, director or director of any of those companies.

    A managed corporation shall be determined by the number of shares held by U. S. citizens. A business with fewer international owners than the required number is considered independent rather than regulated.
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Home » Business » Which of the following corporations is allowed to make an S corporation election? a. A U. S. corporation owned by a Brazilian corporation. b. A U. S. owned and operated corporation with 7,000 separate shareholders. c. A U. S.
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