After terminating or voluntarily revoking S corporation status, a corporation may elect it again, but it generally must wait until the beginning of the third tax year after the tax year in which it terminated the election.
The corporation must wait until the beginning of the fifth year to elect S corporation status again.
Correct Answer:
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Q2: The specific identification method and monthly allocation
Q4: S corporations offer the same legal protection
Q6: Like partnerships and C corporations, S corporations
Q7: Like partnerships, S corporations determine their accounting
Q8: The same exact requirements for forming and
Q10: An S corporation can make a voluntary
Q13: The specific identification method is a method
Q16: If an S corporation shareholder sells her
Q17: The S corporation rules are less complex
Q20: To make an S election effective as
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