An S Election Is Terminated If the S Corporation Has

question 121

True/False

An S election is terminated if the S corporation has passive investment income in excess of 20 percent of gross receipts for three consecutive years.

---

Definitions:

Low Pressure

A condition in the atmosphere where the air pressure is lower than the surrounding area, often leading to cloudy weather and precipitation.

Upper Air Currents

Large-scale movements of air that occur in the upper part of the atmosphere, influencing weather patterns and climate.

Air Convergence

The meeting and combining of airflow from different directions, often leading to cloud formation and precipitation.

Air Divergence

The movement of air away from a particular region, often associated with descending air and fair weather.