Lopez Corporation, an existing C corporation, wants to make an S election. If it has a June 30 year end, by what date must it make its election to be effective as of July 1, 2019?
A) March 15, 2019
B) June 30, 2019
C) September 15, 2019
D) December 30, 2019

Question

Quizplus · Accepted Answer

An S election must be made by the 15th day of the third month of the tax year to be effective as of the beginning of the tax year.

Lopez Corporation, an Existing C Corporation, Wants to Make an S