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XYZ, LLC has several individual and corporate members. Abe and Joe, individuals with4/30 year-ends, each have a 23% profits and capital interest. RST, Inc., a corporation with a 6/30 year end, owns a 4% profits and capital interest while DEF, Inc., acorporation with an 8/30 year end, owns a 4.9% profits and capital interest. Finally, thirtyother calendar year-end individual partners (each with less than a 2% profits and capital interest) own the remaining 45% of the profits and capital interests in XYZ. What tax year-end should XYZ use and which test or rule requires this year-end?
Representative Sample
A portion of a population that serves as an accurate reflection of the overall population's members.
Kinsey
Referring to Alfred Kinsey, an American biologist known for his research on human sexuality in the mid-20th century.
Interviewer
A person who asks questions in a formal or informal setting to gather information, often for a job position or research purposes.
Bulimia
A disorder involving episodes of overeating followed by actions to eliminate calories to avoid gaining weight.
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