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:

A 240-volt d.c. motor on brake test took 52 Amp when running at 1500 rpm. The spring balance at the end of the 76 cm brake arm reads 93.5 N. What is the efficiency of the motor at this load?

Q:

Conduct research on the Web sites of either CIO Magazine or CFO Magazine (or another that your instructor suggests) for stories about ERP implementation successes and failures. Using specific...

Q:

Why might a lack of transparency in the supply chain be a problem for a company?

Q:

What is the difference between a centralized and a decentralized organizational structure? Why do firms often prefer to have a centralized structure?

Q:

4. What specific changes in the environment have taken place in relation to the information we have collected?

Q:

2. The purpose of the acquisition of the information.

Q:

1. What is the meaning of the information we are collecting?