Which of the following corporations is entitled to join in a consolidated tax return without making a special election?
A)corporations exempt from tax under Sec. 501
B)real estate investment trusts
C)closely held corporations
D)foreign corporations

Question

Quizplus · Accepted Answer

Closely held corporations are entitled to join in a consolidated tax return without making a special election, as long as they meet the necessary ownership requirements. Other types of corporations may need to make a special election to join a consolidated tax return.

Which of the Following Corporations Is Entitled to Join in a Consolidated