Boutique Bodega Corporation would like to change its corporate status to that of an S corporation to avoid income taxes at the corporate level.To qualify,the shareholders must not be

Question

Quizplus · Accepted Answer

The correct answer is D because partnerships are not eligible to be shareholders in an S corporation. The other options, corporations, estates, and individuals, are eligible to be shareholders in an S corporation.

Boutique Bodega Corporation Would Like to Change Its Corporate Status