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A majority of their shareholders are foreign investors and

J&M, Inc., a U.S. corporation, seeks to avoid double taxation. Their accountant suggested that they file their taxes as an S-Corp. J&M has 127 shareholders and three classes of stock. A majority of their shareholders are foreign investors and corporations. Are they able to file their taxes as an S-Corporation? Why or why not?

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Business Management: A majority of their shareholders are foreign investors and

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