Question: An entity is created on June 1, 2018. The entity does not start doing business until December 15, 2018. If the entity wants to be

An entity is created on June 1, 2018. The entity does not start doing business until December 15, 2018. If the entity wants to be treated as an S-corporation for NYS and NYC purposes it must make an S-corporation by which of the following dates:

August 16, 2018 or March 2 , 2019 ??

From the day of creation or the day they start business ? 20 months and 15 days

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Multiple Choice 56. If a taxpayer becomes a New York domiciliary in 2018, when is the last day a taxpayer can satisfy the statutory resident test for that same year? a. The Matter of Sobotka is not...

Q:

1. An entity is created on June 1, 2018. The entity does not start doing business until December 15, 2018. If the entity wants to be treated as an S-corporation for NYS and NYC purposes it must make...

Q:

An entity is created on June 1, 2018. The entity does not start doing business until December 15, 2018. If the entity wants to be treated as an S-corporation for NYS and NYC purposes it must make an...

Q:

An entity is created on June 1, 2018. The entity does not start doing business until December 15, 2018. If the entity wants to be treated as an S-corporation for NYS and NYC purposes it must make an...

Q:

An entity is created on June 1, 2018. The entity does not start doing business until December 15, 2018. If the entity wants to be treated as an S-corporation for NYS and NYC purposes it must make an...

Q:

Refer to the 2019 Telstra annual report and Explain whether the adoption of AASB 16 Leases is likely to have a material effect on the reports of the company, or whether it has had a material effect...

Q:

Refer to the 2019 Telstra annual report and Explain whether the adoption of AASB 16 Leases is likely to have a material effect on the reports of the company, or whether it has had a material effect...

Q:

James Doode decided to start his own personal business in 2017 after retiring from the Canadian Armed Forces. Upon retirement in 2016, James elected to receive immediate monthly pension payments from...

Q:

James Doode decided to start his own personal business in 2017 after retiring from the Canadian Armed Forces. Upon retirement in 2016, James elected to receive immediate monthly pension payments from...

Q:

If I need to I can list these questions separately and also provide more of the annual report if needed. Thanks for the help! I need help. I have been asked to review the the 2018 Annual Report (Form...

Q:

z #1, #2, #3 20 The optimal tableau is below. RRE Toyco assembles three types of toys-trains, trucks, and cars-using three operations. The daily limits on the available times for the three operations...

Q:

At the beginning of 2018, a parent sells a building with a book value of $1,000,000 to its subsidiary for $1,500,000. The building has a 10-year remaining life at the time of sale. Straight-line...

Q:

"a reasonable rate of return ( percent ) established for evaluating and selecting alternatives", is a . MARR b . Debt Financing c . All choices are incorrect d . Equity Financing e . Opportunity Cost

Q:

The table below shows the name, duration, and the predecessor(s) of specific tasks. Predecessor Duration ES EF LS LF Slack Activity A B 3 4 D A A B D, E E 2 5 1 2 4 3 F G H F, G 1. Develop a PERT...

Q:

16. Now put the areas you have ranked in order of priority and reflect on which values they correspond to in your value hierarchy.

Q:

14. Now reconcile what you answered to problem 15 with problem 13.

Q:

11. In what environment or contexts is it the value you want others to associate you with that the value can best be expressed in? Do you seek out these contexts to learn?