A calendar year corporation has an election under Subchapter S What will be the effect, if any, of the following events on its S status a The board of directors of the corporation revokes its S election in March of the current year b A shareholder who is a citizen of Mexico and works in San Antonio...

a The revocation needs to be made by a majority of the shareholdersnot the board of directors Even i ...

A calendar year corporation has an election under Subchapter S. What will be the effect, if any,

Question:

A calendar year has an election under Subchapter S. What will be the effect, if any, of the following events on its S status?
a. The board of directors of the revokes its S election in March of the current year.
b. A shareholder who is a citizen of Mexico and works in San Antonio retires and moves back to Mexico.
c. The acquires an interest in a partnership.
d. Because of the death of a shareholder, the total number of shareholders increases from 98 to 101.
e. A shareholder transfers her stock to a newly formed LLC.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...