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When a Corporation Is Formed,if the Transferors Own 80% or More

question 33

True/False

When a corporation is formed,if the transferors own 80% or more of the corporation immediately after the exchange,then the transaction is,generally,tax-free.

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Definitions:

Short-term Memory

The ability to keep a limited amount of data in a readily accessible and active condition for a brief duration.

Sensory

Pertaining to the senses or sensation.

Implicit

Something that is implied or understood though not directly expressed or stated.

Echoic Memory

A component of sensory memory that specifically stores auditory information, allowing sounds and words to be retained for a brief period after being heard.

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