Which statement is incorrect with respect to an S shareholder's consent?
A) Both husband and wife must consent if one owns the stock as community property.
B) An S election requires a consent from all of the S corporation's shareholders.
C) A consent must be in writing.
D) All of these statements are correct.

Question

Quizplus · Accepted Answer

All the statements provided are correct regarding an S shareholder's consent. In the context of S corporations, all shareholders must consent to the election, consents must be in writing, and in community property states, both spouses must consent if one owns the stock as community property.

Which Statement Is Incorrect with Respect to an S Shareholder's