On January 1,2016,Copper Corporation (a calendar year S corporation for many years)became a C corporation.A possible reason for this change in status is:

Question

Quizplus · Accepted Answer

The revocation of S election is the only valid reason for Copper Corporation to become a C corporation in the given options. Option A may lead to a tax liability, but it does not render the S election invalid. Option B is irrelevant unless the partnership had more than 100 shareholders, which would force the termination of S status. Option D is also incorrect since revocation requires a majority shareholder vote, not unanimous consent.

On January 1,2016,Copper Corporation (A Calendar Year S Corporation for Many