S Corporations Without Earnings and Profits from Prior C Corporation

question 26

True/False

S corporations without earnings and profits from prior C corporation years are not subject to the excess net passive income tax.

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Definitions:

SASSI-3

A screening tool used to identify individuals with substance dependency by assessing symptoms and risk factors.

MAST

An acronym for Michigan Alcohol Screening Test, a questionnaire used to screen for alcoholism or problems related to alcohol consumption.

CAGE

A questionnaire used to screen for alcoholism by asking about efforts to Cut down, Annoyance by criticism, Guilty feelings, and Eye-openers.

Substance Abuse

The detrimental or unsafe utilization of substances that affect mental processes, such as alcohol and illegal drugs.