A Parent Corporation Must Make the § 338 Election by the Fifteenth

question 7

True/False

A parent corporation must make the § 338 election by the fifteenth day of the third month following the close of the tax year in which a qualified stock purchase occurs.

---

Definitions:

Effective

Relates to something that achieves its intended purpose or goal in a successful manner.

Key Goals

Fundamental objectives or targets that an entity, such as an individual or organization, aims to achieve.

Social Distance

The degree of acceptance or rejection individuals exhibit towards others or groups, which can influence social interactions.

Familiar

Well-known or easily recognized, often through frequent exposure or acquaintance.