On March 15, 2018, J. D. sold his Clampett, Inc. (an S corporation) shares to Ellie Mae, Inc. (a C corporation) , terminating Clampett, Inc.'s S election on March 15, 2018. Absent permission from the IRS, what is the earliest date Clampett, Inc. may again elect to be taxed as an S corporation?
A) January 1, 2024.
B) January 1, 2023.
C) January 1, 2022.
D) January 1, 2021.
E) January 1, 2019.
Correct Answer:
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