Each of these events will lead to automatic termination of the S corporation election EXCEPT:...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Each of these events will lead to automatic termination of the S corporation election EXCEPT:
The corporation ceases to be a small business corporation as defined by the IRS.
For three consecutive years, the corporation has accumulated earnings and profits and has excess profits derived from net passive income.
All of the shareholders vote unanimously to convert the S corporation to a C corporation.
The election is revoked.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.