Z is a corporation owned by an individual, C and a corporation , D. C owns 60
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Question:
Z is a corporation owned by an individual, C and a corporation , D. C owns 60 shares of Z common stock, D owns 40 shares of Z common stock. C wishes to sell 30 shares back to Z for $600. C owns 45% of the stock of D corporation and E, C[s father, owns 5% of the outstanding shares of D.
a There is no attribution under Section 318 of D's ownership in Z because C owns only 45%
b There is attribution of 50% of D's ownership in Z
c There is attribution of all of C's shares in Z to D
d B and C
e None of the above
Which is the correct answer? Can you explain why
Expert Answer:
Answer There is attribution of 50 of Ds ownership in Z Explanation According to ... View the full answer
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