Moose Corporations 400 shares of outstanding stock are owned as follows Name Shares Lara (an individual) 60 LMN Partnership (Lara is a 20 partner) 50 LST Partnership (Lara is a 70 partner) 100 Lemon Corporation (Lara is a 30 shareholder) 100 Lime Corporation (Lara is a 60 shareholder) 90 Total 400 ...

Under the constructive ownership rules of Sec 318 Lara owns 194 sh ...

Moose Corporations 400 shares of outstanding stock are owned as follows: Name Shares Lara (an individual)

Question:

Moose Corporation’s 400 shares of outstanding stock are owned as follows:
Name Shares
Lara (an individual) …………………………………………… 60
LMN (Lara is a 20% partner) ……………………. 50
LST (Lara is a 70% partner) ……………………… 100
Lemon (Lara is a 30% shareholder) ……………… 100
Lime (Lara is a 60% shareholder) ……………….. 90
Total …………………………………………………………… 400
How many shares is Lara deemed to own under the Sec. 318 attribution rules?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...