Answer Corp. has two common stockholders. Answer derives all of its income from investments in stocks and securities, and it regularly distributes 51% of its taxable income as dividends to its stockholders. Answer is a:

Sleigh Corp. is a calendar year domestic personal holding company. Which deduction(s) must Sleigh make from Year 17 taxable income to determine undistributed personal holding company income prior to the dividend-paid deduction?

I. Federal income taxes
II. Net long-term capital gain (less related federal income taxes)

Carrick Corp. met the stock ownership requirements of a personal holding company. What sources of income must Carrick consider to determine if the income requirements for a personal holding company have been met?

I. Interest earned on tax-exempt obligations
II. Dividends received from an unrelated domestic corporation

In order for an S Corp to have a valid election, the decision must be agreed upon by _____.

The personal holding company income test requires the company’s income for a given taxable year to be at least:

ABC Corp has 2 common stockholders. ABC derives all of its income from investments in stocks and securities, and it regularly distributed 51% of its taxable income as dividends to its stockholders. ABC is a: