If the shareholders of a calendar year C corporation elect S status on Friday,March 11,2016,the election is effective for all of 2016.

Question

Quizplus · Accepted Answer

If the S election is made before the 15th day of the third month of the tax year, it is effective for the entire tax year. In this case, March 11, 2016, which is before the deadline of March 15, 2016, so the S election will be effective for the entire year 2016.

If the Shareholders of a Calendar Year C Corporation Elect