A C Corporation Was Formed Five Years Ago and Is

question 80

Multiple Choice

A C corporation was formed five years ago and is a fiscal-year taxpayer with a June 30 year-end. The C corporation wants to make an S election for its tax year beginning in the current year. The election must be made by ________ (assuming permission can be obtained to continue using the fiscal year from the IRS) .

• A)June 30 of the current year
• B)September 15 of the current year
• C)June 30 of the next year
• D)September 15 of the next year

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Definitions:

Community Groups

Organizations or collectives formed at the local level with the purpose of addressing community needs and interests.

Social Capital

The networks, relationships, and norms that facilitate collective action and cooperation among members of a community.

Integrative Complexity

A psychological concept that refers to an individual's ability to recognize multiple perspectives and integrate them into a cohesive understanding.

More Structured

A condition or situation characterized by a higher degree of organization, rules, and clarity in roles and responsibilities.