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Author Question: Briefly discuss the the major restrictions placed on an S ... (Read 56 times)

Anajune7

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on: Jun 24, 2018
Briefly discuss the the major restrictions placed on an S corporation.

Question 2

_________ quotas are imposed on a particular product regardless of origin, while ________ quotas spread the total limit across several specific countries.
 A) Absolute; qualified
 B) Global; specified
 C) Absolute; allocated
 D) Global; allocated


sarajane1989

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Reply #1 on: Jun 24, 2018
Answer to Question 1

An S Corporation faces some major restrictions. they are:
There can be only one class of stock.
There can be no more than 100 shareholders.
Shareholders must be individuals, estates, charities, pension funds, or trusts, not partnerships or corporations.
Shareholders must be citizens or residents of the United States, not nonresident aliens.
All shareholders must agree that the company should be an S corporation.


Answer to Question 2

D


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Anajune7

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Reply #2 on: Jun 24, 2018
Thank you :)


sarajane1989

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Reply #3 on: Jun 24, 2018
Happy to help you


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