Suppose Hassell formed a C corporation, NewCorp. Inc., in 2014 with a calendar tax year and made an S election on April 14, 2014 with the consent of NewCorp. Inc.'s shareholders: Hassell, Richie Cunningham, and Arnold's, Inc. (a C corporation) . When is the S election effective?
A) January 1, 2014.
B) April 14, 2014.
C) January 1, 2015.
D) April 14, 2015.
E) Never.
Correct Answer:
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