snakeweed1295 snakeweed1295

17-12-2019
Social Studies

contestada

Regarding a corporation’s election for S status, which of the following statements is true?
a. None of the answers are correct.
b. A filed election for S status will be deemed made timely, if it is included with the corporation’s initial filing of its annual report of income on Form 1120S.

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austineemodi austineemodi

17-12-2019

Answer:r

Option B is correct

Explanation:

The annual report of income because it would be taxed at corporate tax rate which is part of the requirements for electing s corp status.

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