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

question 99

Multiple Choice

If Annie and Andy (each a 30% shareholder) file a revocation on February 10, 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) February 10, 2014.
• C) January 1, 2015.
• D) February 10, 2015.
• E) None of these.

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Definitions:

Billion Years Ago

A time scale used in geology and astronomy to describe events or conditions that happened a billion or more years prior to the present.

Traces of Life

Evidence or indicators of past or present living organisms, which can include fossils, biological markers, or microbial patterns.

Hadrosaur

A type of duck-billed dinosaur that lived during the Late Cretaceous period, known for its flat beak and often elaborate head crests.

Crest

A prominent feature or projection on an animal's body, such as the plumage on the head of a bird or a ridge along a dinosaur's skull, often used for display or signaling.