Motor Masters is a conventional corporation with 516 stockholders. A number of the stockholders are citizens of Canada and others are citizens of Mexico, though most are American. Due to its size and diversity in ownership, you would recommend that Motor Masters change to an S corporation.

Question

Quizplus · Accepted Answer

Motor Masters does not satisfy the requirements for an S corporation-it has more than 100 stockholders, some of whom are not U.S. citizens or permanent residents of the United States.

Motor Masters Is a Conventional Corporation with 516 Stockholders