On March 15,2017,J.D.sold his Clampett,Inc.(an S corporation) shares to Ellie Mae,Inc.(a C corporation) ,terminating Clampett,Inc.'s S election on March 15,2017.Absent permission from the IRS,what is the earliest date Clampett,Inc.may again elect to be taxed as an S corporation?
A) January 1, 2023.
B) January 1, 2022.
C) January 1, 2021.
D) January 1, 2020.
E) January 1, 2018.
Correct Answer:
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