If an S Corporation Has C Corporation E & P

question 1

Short Answer

If an S corporation has C corporation E & P and passive investment income in excess of
% of its gross receipts for consecutive taxable years, the S election is terminated at the beginning of the year.

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Definitions:

Antiwar Protests

Public demonstrations opposing military conflict, particularly those that gained prominence during the Vietnam War in the 1960s and 1970s.

Kent State

Refers to the Kent State shootings in 1970, where the National Guard opened fire on unarmed college students protesting the Vietnam War, killing four.

Invasion

An unwelcome intrusion into another's domain, typically referring to the entering of an army into a territory.

Cambodia

A country located in Southeast Asia, known for its rich history, especially during the Angkor period and for the tragic Khmer Rouge era.