Generally, Upon Making a Proper Election an Affiliated Group Is

question 46

Multiple Choice

Generally, upon making a proper election an affiliated group is considered to remain in existence for purposes of filing a consolidated tax return if

• A)Form 1122 is filed annually with the IRS at least 90 days before the due date of the consolidated tax return.
• B)The common parent has at least one subsidiary that was a member of the group for at least six months during the year.
• C)The subsidiary has sold no more than 80 percent of its stock to a party or parties other than the parent group.
• D)The common parent has filed a consolidated report the year before and has a subsidiary at the end of the tax year.
• E)The common parent has at all times during the tax year at least one subsidiary that was a member of the group at any time during the year.

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Definitions:

Categorical Syllogism

A form of deductive reasoning consisting of three propositions: two premises and a conclusion, each stating something about categories of things.

Mood

In logic, the mood of a categorical syllogism refers to the arrangement or type of the categorical propositions (A, E, I, O) it contains.

Premises

Statements or propositions that provide the basis for a conclusion in an argument.

Major Premise

The first statement in a syllogism that contains the major term and provides a general principle or rule.