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ACC - Lilac Corporation purchased 25%of the Coffee Corporation stock outstanding

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Question;On July 20, 2012, Lilac Corporation purchased 25%of the Coffee Corporation stock outstanding. Lilac Corporation purchased an additional 40%of the stock in Coffee on March 22, 2013, and an additional 20%on May 2, 2013.On September 23, 2013, Lilac Corporation purchased the remaining 15% of Coffee Corporation stock outstanding. For purposes of the ?338 election, on what date does a qualified stock purchase occur? What is the due date for making the?338 election?

 

Paper#43142 | Written in 18-Jul-2015

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