S Corporations May Have No More Than 50 Shareholders, but Members

question 24

True/False

S corporations may have no more than 50 shareholders, but members of the same family only count as one shareholder.

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Definitions:

Hangover

Unpleasant physical and mental effects that follow the consumption of alcohol, such as headache and nausea.

Illicit Substance

A drug or other substance that is illegal or prohibited by law to use, possess, or distribute.

Tobacco Smoking

The act of inhaling smoke from burning tobacco products, such as cigarettes, which is harmful to health.

Biological Risk Factors

Inherent or genetic characteristics that increase the likelihood of developing a certain disease or condition.