If an S Corporation Has C Corporate E & P

question 81

Short Answer

If an S corporation has C corporate E & P and passive income in excess of ____________________ % of its gross receipts for ____________________ consecutive taxable years, the S election is terminated at the beginning of the ____________________ year.
or
or

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Definitions:

Republic Credits

In the Star Wars universe, Republic Credits are a form of currency that was used by the Galactic Republic for transactions and trades, not applicable in real-world economics.

Marginal Product

The additional output resulting from using one more unit of a particular input, holding other inputs constant.

Total Revenue

The total amount of money a company receives from its sales of goods or services, calculated before any expenses are subtracted.

Total Output

The total quantity of goods and services produced in an economy over a specific period of time.