If, on Joining an Affiliated Group, SubCo Has a Different

question 88

Short Answer

If, on joining an affiliated group, SubCo has a different tax year than that of ParentCo, SubCo must switch its year- end to ParentCo's by the end of the first, second, etc.) tax year after the election to consolidate.

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Definitions:

Doing Favors

The act of willingly assisting others without expecting anything in return, often to build goodwill or relationships.

External Leadership Behavior

Leadership actions and behaviors that are directed towards individuals or groups outside of the leader's own organization or team.

Networking

The process of engaging with others to share information and create professional or social networks.

Transformational Leadership

A style of leadership where the leader works with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group.