If an S Corporation Never Operated as a C Corporation

question 12

True/False

If an S corporation never operated as a C corporation, it may earn passive investment income without fear of an involuntary S election termination.

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Definitions:

Racist

A person who believes in racism, the belief that one race is superior to others, often resulting in discrimination and prejudice towards people based on their race or ethnicity.

Civil Rights Movement

A historical social movement in the United States aimed at ending racial segregation and discrimination against African Americans and securing legal recognition and federal protection of the citizenship rights enumerated in the Constitution and federal law.

Mahatma Mohandas Gandhi

An Indian lawyer and anti-colonial nationalist who led the campaign for India's independence from British rule through non-violent protest.

Black Power Movement

A political and social movement in the 1960s and 1970s emphasizing racial pride, economic empowerment, and the creation of political and cultural institutions for African Americans.