J.D.formed Clampett,Inc.as a C corporation (calendar tax year)with J.D.,Granny,and Jethro,Inc.(a C corporation)as shareholders.On January 15,2017,Jethro,Inc.sold all its shares to Jane Hathaway.On February 28,2017,Clampett,Inc.filed an S corporation election,with J.D.,Granny,and Jane all consenting to the election.What is the earliest effective date of the S election?

Question

Quizplus · Accepted Answer

The Answer of J.D.formed Clampett,Inc.as a C corporation (calendar tax year)with J.D.,Granny,and Jethro,Inc.(a C corporation)as shareholders.On January 15,2017,Jethro,Inc.sold all its shares to Jane Hathaway.On February 28,2017,Clampett,Inc.filed an S corporation election,with J.D.,Granny,and Jane all consenting to the election.What is the earliest effective date of the S election?

JDFormed Clampett,Inc