Consent to an S Election Must Be in ____________________, and It

question 94

Short Answer

Consent to an S election must be in ____________________, and it must be generally filed by the election ____________________.
or

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Definitions:

Lump Sum Payment

A large, one-time payment made for a particular purpose, rather than a series of smaller installments.

Compounded Annually

Interest on an investment or loan is calculated annually on both the initial principal and previously accumulated interest.

Loan

Borrowed capital that is expected to be repaid with interest by the borrower to the lender at a future date.

Annual Payments

Payments made once a year for any form of obligation or financial product, such as loans, leases, or insurance premiums.