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21 February, 02:12

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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Answers (1)
  1. 21 February, 04:04
    0
    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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