Question: J . D . formed Clampett, Incorporated, as a C corporation ( calendar tax year ) with J . D . , Granny, and Jethro,

J.D. formed Clampett, Incorporated, as a C corporation (calendar tax year) with J.D., Granny, and Jethro, Incorporated (a C corporation) as shareholders. On January 15,2023, Jethro, Incorporated, sold all its shares to Jane Hathaway. On February 28,2023, Clampett, Incorporated, filed an S corporation election, with J.D., Granny, and Jane all consenting to the election. What is the earliest effective date of the S election?
Multiple Choice
January 1,2023
January 1,2024
January 1,2025
J . D . formed Clampett, Incorporated, as a C

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!