A corporation is closely held if: Question 33Select one: a. It is a C corporation b. At any time during the last half of the tax year, more than 50% of the value of its outstanding stock is, directly or indirectly, owned by or for five or fewer individuals c. Each employee-owners owns more than 10% of the fair market value of the outstanding stock on the last day of the testing period d. All of the above are requirements