Pro Audio, Inc., would like to change its corporate status to that of an S corporation. To qualify, Pro Audio must

Question

Pro Audio, Inc., would like to change its corporate status to that of an S corporation. To qualify, Pro Audio must​

Quizplus · Accepted Answer

To qualify as an S corporation, a business must be a domestic corporation, meaning it is incorporated in the United States. The other options listed (having more than one hundred shareholders and being a benefit corporation) are not requirements for S corporation status.