Both the number of shareholders and the permitted total of gross revenues are limited in a privately held corporation.

Name: Both the number of shareholders and the permitted total of gross revenues are limited in a privately held corporation.
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Privately held corporations do not have a limit on the number of shareholders; however, once they exceed a certain number, they may be required to register with the SEC. There is also no limit on the total of gross revenues.

Both the Number of Shareholders and the Permitted Total of Gross