Which Corporation Is Eligible to Make the S Election

question 8

Multiple Choice

Which corporation is eligible to make the S election?

• A) Non-U.S. corporation.
• B) One-person limited liability company.
• C) Insurance company.
• D) U.S. bank.
• E) None of these.

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Definitions:

Heterozygous

Referring to an organism that has two different alleles for a specific gene, one inherited from each parent.

Dominant Allele

An allele that expresses its phenotypic effect even when heterozygous with a recessive allele.

Recessive Allele

A variant of a gene that must be inherited from both parents in order to manifest its trait, as opposed to a dominant allele where only one copy is needed for expression.