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:

Torquing

The act of applying a specific amount of twisting force to a nut, bolt, or screw to ensure it is tightened to the correct specification.

Hydraulic Cylinder

A mechanical actuator that provides unidirectional force through a unidirectional stroke, used in various machines and equipment.

Linear Actuator

Device that converts hydraulic energy into linear motion such as COE cab lift cylinders or dump box rams.

Rotary Actuator

Device that converts fluid flow into incremental rotary motion as opposed to continuous cycle rotary motion.