Given this stock ownership will whitemop corporation

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Reference no: EM13135814

100% of the income of Whitemop Corporation will be treated as personal holding company type income. Whitemop Corporation is owned by the following persons:

20% - Mr. Ted Mitchell - Darien Whitemop=s father
5% - Ms. Darien Whitemop
10% - Mr. Debit Whitemop - Darien=s husband
65% - owned EQUALLY at 5% each by 13 unrelated persons
100% - Total ownership

Given this stock ownership, will Whitemop Corporation be treated as a personal holding company (i.e., do 5 or fewer persons own more than 50% of the stock)?

Reference no: EM13135814

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