Twenty Unrelated U

question 96

True/False

Twenty unrelated U.S. persons equally own all of the stock of Quigley, a foreign corporation. Quigley is a CFC.

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Definitions:

Elder

A term that refers to an older person, often used with respect and to acknowledge their wisdom and experience.

Monetary Benefit

Financial advantage or gain received from an action or investment.

ADAAA

The Americans with Disabilities Act Amendments Act of 2008, a civil rights law that prohibits discrimination based on disability.

Disability

A physical or mental condition that limits a person's movements, senses, or activities.