To Meet the Control Test Under Section 351, Taxpayers Transferring

question 11

True/False

To meet the control test under section 351, taxpayers transferring property to a corporation must in aggregate own 80 percent or more of the corporation's voting stock and 80 percent of each class of nonvoting stock after the transfer.

---

Definitions:

Bacteriophage

Type of virus that infects bacteria.

Emerging Disease

An emerging disease is a disease that has appeared in a population for the first time, or that may have existed previously but is rapidly increasing in incidence or geographic range.

Vector

In biotechnology, a plasmid or other DNA molecule that can accept foreign DNA and be replicated inside a host cell. In epidemiology, an animal that carries a pathogen from one host to another.

Reverse Transcriptase

An enzyme that catalyzes the formation of DNA from an RNA template, crucial for the replication of retroviruses.