TireShop, Inc. owns 85% of Rubber Supply Co.'s voting stock throughout the tax year. TireShop and Rubber Supply would be considered as what kind of controlled group?

Name: TireShop, Inc. owns 85% of Rubber Supply Co.'s voting stock throughout the tax year. TireShop and Rubber Supply would be considered as what kind of controlled group?
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Question

Quizplus · Accepted Answer

TireShop, Inc. owns more than 80% of Rubber Supply Co.'s voting stock, which qualifies them as a parent-subsidiary controlled group.