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Question 14: John owns 75% of each of 5 incorporated car dealerships. The remaining 25% is owned by an unrelated person, a different one for each dealership. (So, corporation A is owned by John and A, corp B by John and B, etc.) Finally, John owns 100% of another corporation, a body shop. If the body shop wants to establish a plan, do I have to cover the employees of the dealerships? |
Answer: No. None of them are in a controlled group. |
Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.
The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.
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