Acton Enterprises was incorporated in Montana in 1964. Until 2015, all of the company's directors were residents of Bozeman, Montana, with all meetings held in that city. However, in 2015, all of the directors moved to Calgary, Alberta, with all subsequent meetings held in that city. Determine the residency status of Acton Enterprises for the taxation year ending December 31, 2020.

Question

Quizplus · Accepted Answer

The Answer of Acton Enterprises was incorporated in Montana in 1964. Until 2015, all of the company's directors were residents of Bozeman, Montana, with all meetings held in that city. However, in 2015, all of the directors moved to Calgary, Alberta, with all subsequent meetings held in that city. Determine the residency status of Acton Enterprises for the taxation year ending December 31, 2020.

Acton Enterprises Was Incorporated in Montana in 1964