In Order for a Corporation's Stock to Qualify as a Qualified

question 18

True/False

In order for a corporation's stock to qualify as a qualified small business stock under § 1202, the corporation must be a C corporation and the gross assets at incorporation must be $20 million or less.

---

Definitions:

Outlet Port

An exit point on a device or machine where substances (fluid or gas) are expelled or discharged.

Hydraulic Pump

A device that converts mechanical energy into hydraulic energy by forcing fluid from a reservoir into a hydraulic system.

Rpm

Stands for revolutions per minute, a measure of the frequency of rotation, specifically the number of rotations around a fixed axis in one minute.

Load

The amount of electrical power or physical weight that is applied or carried by a system or component.