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On June 12, 20X9, Kevin, Chris, and Candy Corp

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Essay

On June 12, 20X9, Kevin, Chris, and Candy Corp. came together to form Scrumptious Sweets General Partnership. Now, Scrumptious Sweets must decide which tax year-end to use. Kevin and Chris have calendar year-ends and each holds a 35% profits and capital interest. However, Candy Corp. has a September 30th year-end and holds the remaining 30% profits and capital interest. What tax year-end must Scrumptious Sweets adopt and what rule mandates this year-end?


Definitions:

Frontal Lobes

are the areas of the brain located behind the forehead that are responsible for complex cognitive functions, including decision-making, problem-solving, and control of voluntary movements.

Deep Brain Stimulation

Deep brain stimulation is a medical treatment involving the implantation of a neurostimulator device that sends electrical impulses to specific parts of the brain for treating movement and psychiatric disorders.

Biomedical Therapy

A type of therapy that involves medication and/or medical procedures to treat psychological disorders.

Deep Brain Stimulation

A neurosurgical procedure that involves implanting electrodes in the brain to send electrical impulses to specific areas.

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