Question: Leonard Grant is the sole shareholder of Great Yards Corporation
Leonard Grant is the sole shareholder of Great Yards Corporation, a landscaping business. During the current year, Leonard’s wife, Lisa, and his sister, Lena, formed a catering business, Take for Granted Inc. Both businesses are operated as regular corporations. Lisa and Lena are equal shareholders in Take for Granted. Are Great Yards and Take for Granted considered a controlled group for purposes of calculating the corporate income tax?
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