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The code section that provides the limitation

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Reference no: EM13671362

In enacting Subchapter S of the Code, Congress decided to give a certain group of corporations a break from the burden of double taxation. Given this fact, there MUST be limitations on the corporations that can select S corporation status! Provide an example of one such limitation, including the text of the Code section that provides the limitation.

Reference no: EM13671362

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