Since the Internet had no information on this, I asked a lawyer, who by his own admittance said he wasn't positive, but believed that: a wholly owned indirect subsidiary is a wholly owned subsidiary...
A big difference is not having to calculate a minority interest or worry about needing to revert to other shareholders on key business decisions
If you have an non-profit org. and you want to have a subsidiary started. What steps do you take too have a subsidiary with the parenting company?
Legal paperwork ,can be lengthy and expensive Controlling issue when a subsidiary is partially owned by another outside organization
Consolidating Income Statement