1. Which of the following attributes is NOT generally considered as a corporation as defined for federal tax purposes in Treas. Reg. 301.7701-2(b)?
A. A business entity organized under a State statute B. An association as determined under Reg. 301.7701-3 C. Certain foreign entities D. A proprietorship.
2. Which of the following correctly describes the corporate requirements for a distribution to be treated as a dividend?
A. Current or accumulated earnings and profits B, Retained earnings C, Current D, Accumulated profits