Comment Re:Supreme Court did *not* say corps are people .. (Score 1) 1330
Being a "closely held" corporation has nothing to do with the actual number of shareholders. A "closely held" corporation is a corporation in which the majority ie. > 50% of the value of the outstanding shares is owned by five or fewer individuals. In other words, as long as the majority of the shares is held by five or fewer people, there can be many other shareholders and the corporation would still be regarded as being "closely held".