For each of the following independent cases below, indicate whether the entity will be taxed as an S corporation corporation for the respective period.
a. Richards Corporation, uses the calendar year as its tax year. It files an S election on March 31, 2018. If no reas cause is shown, how will Richards Corporation be treated for tax purposes in 2018?
b. Shareholders owning more than 50% of the stock of Harper Corporation, a qualifying calendar- year S corporation, consent to a voluntary revocation statement filed by the corporation on March 12, 2018. How will H Corporation be treated for tax purposes in 2018?
c. Shareholders owning more than 50% of the stock of Hazelwood Corporation, a qualifying calendar- year S corporation, consent to a voluntary revocation statement filed by the corporation on March 12, 2018. The prospec termination date is July 1, 2018. How will Hazelwood Corporation be treated for tax purposes in 2018?
d. One of the shareholders of Omni Corporation, a calendar- year S corporation, sells his stock to a Canadian individual on July 8, 2018.
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