POSNER, Circuit Judge.
This appeal from the Tax Court presents an important question concerning the taxation of banks that either (1) are subchapter S corporations or (2) are wholly owned by such corporations and are classified as "qualified subchapter S subsidiaries" ("QSubs"), as is permissible unless they're in one of the categories of "ineligible corporations." 26 U.S.C. §§ 1361(b)(2), (3). Thirty-one percent of all federally insured banks are either...
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