the control requirement under 351 requires that the person or persons transferring property to the...

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Accounting

the control requirement under 351 requires that the person or persons transferring property to the corporation immediatley after the transfer own stock possessing at least 80% of the total combined voting power of all classes of stock entitled to vote and at least 80% of the total number of shares of all other classes of stock of the corporation. True or false?

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