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.

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Definitions:

Union Membership

Individuals who belong to a union, an organization formed for the purpose of representing its members' interests in various employment matters.

Labor Force

The total number of people who are eligible, willing, and able to work, including both the employed and the unemployed.

Union Membership

The state of being a member of an organized group of workers who come together to make decisions about the work environment.

Highest Level

The maximum or most advanced stage of development or achievement in a particular area.