Which, If Any, of the Following Can Be Eligible Shareholders

question 119

Multiple Choice

Which, if any, of the following can be eligible shareholders of an S corporation?

• A) A Roth IRA.
• B) Partnership.
• C) A non-U.S. corporation.
• D) A nonqualifying trust.
• E) None of the above can own stock.

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Definitions:

Binding Precedents

Legal decisions or rulings that must be followed by lower courts within the same jurisdiction in future cases with similar circumstances.

Social Security Administration

A U.S. government agency responsible for administering social security, a social insurance program consisting of retirement, disability, and survivor benefits.

Equal Protection Clause

Part of the Fourteenth Amendment to the U.S. Constitution, requiring states to provide equal protection under the law to all persons.

Fourth Amendment

An amendment to the U.S. Constitution that protects citizens from unreasonable searches and seizures, requiring warrants to be judicially sanctioned and supported by probable cause.