An S Election Is Terminated If the S Corporation Has

question 121

True/False

An S election is terminated if the S corporation has passive investment income in excess of 20 percent of gross receipts for three consecutive years.

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Definitions:

Straight-Chain

Linear arrangements of atoms within a molecule without any branching.

C=C Double Bonds

Chemical bonds where two carbon atoms share two pairs of electrons, forming the basis of alkenes in organic chemistry.

Fatty Acid

Long-chain hydrocarbons found in fats and oils, characterized by a carboxylic acid group at one end.

Shape

The external form, contours, or outline of an object or structure.