An S Corporation May Not Have More Than 75 Shareholders

question 51

True/False

An S corporation may not have more than 75 shareholders.

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Definitions:

Leotard

A tight-fitting one-piece garment that covers the body but not the legs, often worn by dancers, gymnasts, and athletes.

Hyperactive

Exhibiting behavior characterized by being excessively active, restless, or having difficulty maintaining attention or controlling impulsiveness.

Discontinuing Lithium

The process of gradually stopping the use of lithium, a medication commonly used to treat bipolar disorder, under medical supervision to avoid withdrawal symptoms or relapse.

Secluded

A state or condition of being isolated or hidden away from others or the public eye.