If Annie and Andy (Each a 30% Shareholder) File a Revocation

question 82

Multiple Choice

If Annie and Andy (each a 30% shareholder) file a revocation on March 18, 2014 to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?

• A) January 1, 2014.
• B) March 16, 2014.
• C) January 1, 2015.
• D) March 16, 2015.
• E) None of these.

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Definitions:

Pennsylvania

A U.S. state located in the northeastern part of the country, known for its rich history and diverse landscapes.

Conflicts With The Indians

Refers to the numerous wars and skirmishes between European settlers and Native American tribes following European colonization of the Americas.

Cities

Urban areas with significant populations where there is a high concentration of buildings, infrastructure, and economic activities.

British North America

Consists of the British Empire's colonial territories in North America before the formation of the United States and the later establishment of the Dominion of Canada.