Which of the following statements regarding personal holding companies is false? a. A personal holding company is

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Which of the following statements regarding personal holding companies is false?

a. A personal holding company is one which has few shareholders.

b. A personal holding company has income primarily from investments.

c. A personal holding company operates a business which is a hobby for its owners.

d. Personal holding companies are subject to a 20 percent tax on income that is left undistributed.

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Related Book For answer-question

Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Mar 02, 2019 07:31 AM

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Which of the following statements regarding personal holding companies is false? a. A personal holding company is

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Income Tax Fundamentals 2019

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