Wednesday, January 20, 2010

Can a C corporation be considered a closely held corporation if family members control more than 50%?

I am trying to determine if a C Corp that has approx 20 shareholders, with one shareholder owning more than 50%, can be considered a closely held corporation?Can a C corporation be considered a closely held corporation if family members control more than 50%?
absolutelyCan a C corporation be considered a closely held corporation if family members control more than 50%?
yes

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