asked 105k views
4 votes
The Bicycle Company has been incorporated and Rebekah and Andy have sold stock to 33 other individuals while retaining just over half of the stock for themselves. During a shareholder meeting, the shareholders unanimously agreed that they would like to have the profits and losses passed through to them just like they would in a partnership. All of the shareholders are individuals and citizens of the United States. The Bicycle Company could be converted into a(n)________.

1 Answer

2 votes
The answer is an S-corporation.
answered
User Alex Kennberg
by
7.7k points
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