Which of the following statements regarding personal holding companies is false? a. A personal holding company is
Question:
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 an extra 20 percent tax on income that is left undistributed.
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The false statement regarding personal holding companies is c ...View the full answer
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Related Book For 
Income Tax Fundamentals 2017
ISBN: 9781305872738
35th Edition
Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller
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