For S Corporations with Earnings and Profits from Prior C

question 126

True/False

For S corporations with earnings and profits from prior C corporation years, the taxation of distributions to the shareholder isgoverned by rules very similar to the rules for partnerships.

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Definitions:

Sleep Terror Disorder

Disorder of arousal in which the individual screams, sweats, and has a racing heart during NREM sleep; the person cannot be easily wakened and usually does not remember the episode on awakening.

Nightmare Disorders

A sleep disorder characterized by frequent and vivid nightmares, often resulting in distress or impairment in social or occupational functioning.

REM Sleep

Rapid Eye Movement sleep; a unique phase of sleep characterized by rapid movement of the eyes, dreaming, and increased brain activity.

Shift Work Type

A work schedule that consists of hours different from the traditional 9 am to 5 pm, often involving evening or night shifts, early morning shifts, and rotating shifts.