Is there an impediment to the business qualifying as an S Corporation,based on the information available?
A) Yes,because a business must operate as a general corporation for at least two years before converting to an S corporation.
B) Yes,because a business must operate as a partnership for at least two years before converting to an S corporation.
C) No.
D) Yes,because there must be at least 100 shareholders involved.
E) Yes,because at least one-third of the shareholders in an S corporation must be corporations.
Correct Answer:
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