Suppose a Calendar Year C Corporation, NewCorp

question 61

Multiple Choice

Suppose a calendar year C corporation, NewCorp., Inc., was formed on January 1, 2017 and all of the shareholders filed a form 2553 to elect S corporation status on April 14,2017 with the consent of all of NewCorp. Inc.'s shareholders: Hassell, RichieCunningham, and Arnold's, Inc. (a C corporation) . When is the S election effective?

• A) April 14, 2018.
• B) January 1, 2018.
• C) January 1, 2017.
• D) April 14, 2017.
• E) Never.