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PHC |
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The PHC tax will apply if more than 50% of the outstanding stock's value is owned (directly or indirectly) by or for no more than five individuals at any time during the last half of the year, and at least 60% of the corporation's adjusted ordinary gross income is passive PHC income, under Sec. The location and size of PHC facilities will be determined by the number of people to be served by them. Elderly clients are more likely to have a PHC because they have often retired and are no longer operating an active business. |
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