The Control Requirement Under § 351 Requires That the Person

question 50

True/False

The control requirement under § 351 requires that the person or persons transferring property to the corporation immediately after the transfer own stock possessing at least 80% of the total combined voting power of all classes of stock entitled to vote and at least 80% of the total number of shares of all other classes of stock of the corporation.

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Definitions:

Organized Crime

Crime carried out by structured groups primarily engaged in illegal activities for profit.

Occupational Related

Pertaining to or connected with one's job or profession, especially in relation to health, safety, and well-being.

Respectable, Upper-Class

Pertains to individuals or groups considered high in social status, often admired for their wealth, education, or manners.

Opportunist Crime

A crime committed without premeditation or planning, seizing the moment when it appears advantageous.