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Posted: May 11th, 2022

LAW 110- Alfred and Billy are unrelated and the sole shareholders of

1. Alfred and Billy are unrelated and the only shareholders of Xinity Company (a C-Corp). Alfred owns 750 shares and Billy owns 250 shares. The company buys again 550 of Alfred’s shares for $100 every. Alfred has a $50 foundation per share earlier than the purchase again. Xinity has $60,000 present E and P with zero collected E and P.a) (35 factors) What would be the tax results of this company purchase again of shares on Alfred and Xinity?b) (25 factors) What consequence if Alfred is Billy’s son on Xinity and Alfred?2) (20 factors) Please write not more than 1 web page on the next: From the supplies for the week, what are a number of the variations between an S-Corp and a C-Corp?

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