Question 2: Brown incorporated a Sole Proprietorship by exchanging all the proprietorship's assets for the...
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Accounting
Question : Brown incorporated a Sole Proprietorship by exchanging all the proprietorship's assets for the stock of GMA Co a new corporation. To qualify a IRCtaxfree incorporation. Brown must be in control of GMA Co immediately after the exchange. What percentage of GMA Co stock must Brown own to qualify as "control" for the purpose?
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