Which of the following entities is eligible to file Federal income tax returns on a consolidated basis?
A)Professional sports team operating as a limited partnership.
B)Japanese corporation engaged in multinational operations, including two-thirds of its activities in the U.S.
C)Japanese corporation engaged in multinational operations, including one-third of its activities in the U.S.
D)U.S. corporation engaged in the nuclear energy industry.

Question

Quizplus · Accepted Answer

Only U.S. corporations can file Federal income tax returns on a consolidated basis. The other entities listed are not eligible because they are either foreign or structured as a limited partnership.

Which of the Following Entities Is Eligible to File Federal