Bobby T (75% owner) would like to terminate the S corporation status for DJ, Inc. but Dallas (5% owner) does not want to terminate the S corporation status. Bobby T can terminate the S status for DJ, Inc. without Dallas' consent.

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According to the IRS, a majority shareholder (more than 50%) has the authority to terminate the S corporation status without the consent of other shareholders. Since Bobby T owns 75% of DJ, Inc., he can terminate the S corporation status without Dallas' consent.

Bobby T (75% Owner) Would Like to Terminate the S