Identify which of the following statements is true.
A)Convertible debt issues might be considered "stock" for purposes of the S corporation single class of stock requirement.
B)The S election must be made no later than the fifteenth day of the fourth month of the tax year for which the election is to be effective.
C)A majority of shareholders must consent to the S corporation election.
D)All of the above are false.

Question

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The Answer of Identify which of the following statements is true.
A)Convertible debt issues might be considered "stock" for purposes of the S corporation single class of stock requirement.
B)The S election must be made no later than the fifteenth day of the fourth month of the tax year for which the election is to be effective.
C)A majority of shareholders must consent to the S corporation election.
D)All of the above are false.

Identify Which of the Following Statements Is True