If Annie and Andy (each a 30% shareholder in an calendar year S corporation) file a revocation statement on March 20, 2017 to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?
A) January 1, 2017.
B) March 16, 2018.
C) March 18, 2017.
D) January 1, 2018.
E) None of the choices are correct.
Correct Answer:
Verified
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