Partnerships,S Corporations,and Personal Service Corporations May Elect a Taxable Year

question 59

True/False

Partnerships,S corporations,and personal service corporations may elect a taxable year which results in a tax deferral of four months or less.

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Definitions:

Concordance

In genetics, the presence of the same trait in both members of a pair of twins or in both members of a family, indicating genetic influence.

G-Rated

A classification for movies deemed appropriate for all ages by the Motion Picture Association of America.

Animated Films

Motion pictures created by photographing a sequence of drawings, models, or computer graphics to give the illusion of movement.

Scenes of Violence

Visual or descriptive representations of physical force exerted for the purpose of causing damage or harm.