Problem 44c66c

Problem 44c66c.

1. What is the stock ownership interest of each Square One shareholder before the redemption?
2. Is the proposed stock redemption a sale of stock or dividend?
3. Is Square One a personal holding company?
4. If Square One is a personal holding company, what additional tax would it have to pay?
5. What year-end tax planning action could Square One take to ensure it is not subject to the personal holding company tax?
Law includes Secs. 301, 302, 316, 318, & 541 thru 547
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Problem 44c66c

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