After Terminating or Voluntarily Revoking S Corporation Status, a Corporation

question 36

True/False

After terminating or voluntarily revoking S corporation status, a corporation may elect it again, but it generally must wait until the beginning of the third tax year after the tax year in which it terminated the election.

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Definitions:

Independent Variable

The factor in a study that the investigator alters to examine its impact on the outcome variable.

Dependent Variable

Refers to the variable in an experiment that is expected to change as a result of variations in the independent variable.

Independent Variable

In an experiment, the variable that is changed or controlled to test its effects on the dependent variable.

Control Variable

A variable that is kept constant during a research experiment to ensure that the effect of the independent variable can be measured without interference.