An S election made before becoming a corporation is valid the next 12-month tax year.
Correct Answer:
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Q1: Persons who were shareholders during any part
Q7: If a resident alien shareholder moves outside
Q9: S corporations are treated as partnerships under
Q10: Where the S corporation rules are silent,
Q13: Most IRAs can own stock in an
Q16: The termination of an S election occurs
Q17: Distributions of appreciated property by an S
Q18: An S corporation cannot incur a tax
Q25: For a new corporation,a premature S election
Q30: Only 51% of the shareholders must consent
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