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.

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Definitions:

Child Labor

The employment of children in any work that deprives them of their childhood, interferes with their ability to attend regular school, and that is mentally, physically, socially or morally dangerous and harmful.

Mandatory Retirement

A policy or practice that requires employees to retire at a certain age, regardless of their personal or professional circumstances.

Welfare Capitalism

An approach to labor relations and social welfare in which companies provide benefits like health insurance and retirement plans to their employees to prevent government intervention and unionization.

Profit Sharing

A company policy of distributing a portion of its net profits to its employees.