Question: 38. (3 pts) To qualify for Sec. 351, a sole proprietor must be in control of the receiving corporation immediately after the exchange of assets

38. (3 pts) To qualify for Sec. 351, a sole proprietor

38. (3 pts) To qualify for Sec. 351, a sole proprietor must be in control of the receiving corporation immediately after the exchange of assets for the corporation's stock. Control" for this purpose means ownership of stock amounting to at least: a 50% b) 51% c) 66.67% d) 80% e) None of the above

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