The election of Subchapter S status by a corporation is valid only if all shareholders consent to the election.

Name: The election of Subchapter S status by a corporation is valid only if all shareholders consent to the election.
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For a corporation to elect Subchapter S status, all shareholders must consent to the election, ensuring that they are all in agreement with the tax implications and requirements of operating as an S corporation.

The Election of Subchapter S Status by a Corporation Is