S Status Can Be Elected If Shareholders Holding the Majority

question 127

True/False

S status can be elected if shareholders holding the majority of the stock consent to the S corporation election on the date of the S corporation election.

---

Definitions:

Maturational Crisis

A crisis resulting from experiencing a new stage of life or a new role that requires significant adjustment in one’s self-concept or behavior.

Recurring Crisis

Situations of instability or danger that happen repeatedly over a period of time, often requiring urgent attention and intervention.

Self-Concept

An individual's perception and understanding of themselves, including their attributes and who and what they are.

Skilled Care Facility

A healthcare setting providing specialized nursing care and rehabilitation services to patients with varying levels of medical needs.