Identify which of the following statements is true.
A)Shareholders who acquire stock in an S corporation after the election date and prior to the election's effective date must consent to the election.
B)S corporation consent by shareholders is binding on the current tax year and all future tax years.
C)Only shareholders who own stock on the date an S election takes effect must consent to the election.
D)All of the above are false.

Question

Quizplus · Accepted Answer

The Answer of Identify which of the following statements is true.
A)Shareholders who acquire stock in an S corporation after the election date and prior to the election's effective date must consent to the election.
B)S corporation consent by shareholders is binding on the current tax year and all future tax years.
C)Only shareholders who own stock on the date an S election takes effect must consent to the election.
D)All of the above are false.

Identify Which of the Following Statements Is True