A New S Corporation Shareholder Can Revoke the S Election

question 97

Multiple Choice

A new S corporation shareholder can revoke the S election unilaterally, if he/she owns how much of the existing S corporation's stock?

• A) More than 50%.
• B) 50% or more.
• C) The election can be revoked only if all of the shareholders consent.
• D) The election cannot be revoked during the first year of the new shareholder's ownership.

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Definitions:

Whole-word Approach

A method in reading instruction focusing on recognizing whole words by sight rather than decoding them phonetically.

Cycadophyta

A division of gymnosperms that includes cycads, characterized by large compound leaves and a stout trunk.

Pteridophyta

A division of non-flowering plants that includes ferns, horsetails, and whisk ferns, characterized by vascular tissue and the absence of seeds.

Gnetophyta

A division of gymnosperms comprising woody plants with some angiosperm-like features, including the genera Ephedra, Gnetum, and Welwitschia.