Reference no: EM131722428

Question - Susquehanna Hat Corporation has 2,500 shares of stock outstanding: (a) Moe owns 800 shares, (b) Curley owns 500 shares, (c) Larry owns 500 shares, (d) Shemp Partnership owns 300 shares, and Niagara Corporation owns 400 shares. Moe and Larry are unrelated individuals, Curley is Moe's brother. All three are equal partners of Shemp. Moe owns 35% of the stock in Niagara Corporation, Curley owns 20%.

a. Applying the § 318 stock attribution rules, determine how many shares in Susquehanna Hat Corporation each shareholder owns, directly and indirectly:

Moe:

Larry:

Curley:

Shemp Partnership:

Niagara Corporation:

b. Assume, instead, that Moe and Curley are father and son. How many shares does each shareholder own, directly and indirectly?