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A(n) ________ Attempts to Minimize Taxes on a Family Business

question 7

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A(n) ________ attempts to minimize taxes on a family business passed from one generation to the next by creating two classes of stock-one for the parents (preferred voting stock) , whose value is locked in, and another for the children (nonvoting common stock) , whose value reflects the market value of the business.


Definitions:

Stock Ownership

The holding of shares in a company, giving the shareholder a claim on part of the company’s assets and profits.

Family And Medical Leave Act

A United States labor law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons.

Workforce Diversity

Refers to the inclusion of individuals with a wide range of characteristics and experiences, such as cultural background, gender, age, and abilities, within a company's employees.

Flexibility And Accommodation

The ability and willingness to adjust or make concessions to meet others' needs or to adapt to changing circumstances.

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