An S Corporation Election for Federal Income Tax Purposes Also

question 11

True/False

An S corporation election for Federal income tax purposes also is effective for all states' income tax purposes.

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Definitions:

Authorization Cards

Authorization cards are signed by employees to indicate their desire for a labor union to represent them; these cards can trigger a formal representation election if a sufficient percentage of workers sign.

NLRB

The National Labor Relations Board, a U.S. government agency that enforces US labor law in relation to collective bargaining and unfair labor practices.

Petition

A formal written request, typically signed by multiple individuals, appealing to authority with respect to a particular cause.

Election

The formal process of selecting a candidate for office or deciding on a proposal by casting ballots.