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Question: Roger is one of 75 members in Justin's S corporation. He is aware that current regulations allow up to 100 members. He believes all 75 members must agree on any new members.

Is he correct? Why or why not?

Current regulations governing S corporation do not allow foreigners to be shareholders. Given the global markets, Justin feels this regulation should be changed.

Is it necessary that the regulation should be changed? Why or why not?

Do foreign owners of S corporation weaken or strengthen U.S. corporations?

Does simply filing an S corporation tax return make the business an S corporation? Analyze and explain how the election of S corporation is made.

Manufacturing firms should not organize as S corporation. Why or why not?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92570415

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