A Qualifying S Election Requires the Consent of ____________________ of the Corporate

question 92

Short Answer

A qualifying S election requires the consent of ____________________ of the corporate shareholders.
or

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Definitions:

Goods-In-Bailment Contract

A contract where personal property or goods are transferred temporarily into the custody of another for a specific purpose but ownership remains with the bailor.

Simple Delivery Contract

A type of contract in which purchased goods are transferred to a buyer from a seller either at the time of the sale or sometime later by the seller’s delivery.

Title Transfer Contract

A legal agreement that outlines the conditions under which the ownership of property is transferred from one party to another.

Identifiable Goods Contract

A contract involving goods that are specifically identified at the time the contract is made, central to transactions under the Uniform Commercial Code (UCC).