A Corporation That Passes the $5 Million Average Gross Receipts

question 12

True/False

A corporation that passes the $5 million average gross receipts test will continue to be treated as a small business corporation (e.g.,no AMT)for 3 years automatically.

---

Definitions:

Copying Cells

The process of duplicating cells, often referring to the biological mechanism of cell division where one cell divides into two identical cells.

Eye Problems

A broad category of conditions that can impair vision and the health of the eye, ranging from minor issues to serious diseases that can lead to vision loss.

Cataracts

A medical condition characterized by clouding of the lens in the eye, leading to decreased vision.

Glaucoma

A group of eye conditions that damage the optic nerve, often caused by abnormally high pressure in the eye, leading to loss of vision if not treated.