A corporation may elect to become a Subchapter S corporation only at the time it is initially formed.

Name: A corporation may elect to become a Subchapter S corporation only at the time it is initially formed.
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Question

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A corporation can elect to become a Subchapter S corporation at any time, not just at the time of formation. However, there are certain requirements that must be met in order to qualify for S corporation status.

A Corporation May Elect to Become a Subchapter S Corporation