The personal holding company tax might be imposed
A)on both partnerships and corporations.
B)on companies whose gross income arises solely from rentals, if the lessors render no services to the lessees.
C)if more than 50% of the company is owned by five or fewer individuals for the entire year.
D)on small business investment companies licensed by the Small Business Administration.

Question

Quizplus · Accepted Answer

The personal holding company tax is imposed if more than 50% of the company is owned by five or fewer individuals for the entire year. This tax is not imposed on partnerships or corporations, small business investment companies licensed by the Small Business Administration, or companies whose gross income arises solely from rentals if the lessors render no services to the lessees.

The Personal Holding Company Tax Might Be Imposed