On January 1, 2017, 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 the S election by a majority of the shareholders is a valid reason for a calendar year S corporation to become a C corporation, effectively on the first day of the year. Options A, B, D are not valid reasons for the S corporation to convert to a C corporation.

On January 1, 2017, Copper Corporation (A Calendar Year S