An S Election Made Before Becoming a Corporation Is Valid

question 35

True/False

An S election made before becoming a corporation is valid only beginning with the first 12-month tax year.

---

Definitions:

Bizarre Delusion

A false belief that is strange, completely implausible, and not rooted in reality, often seen in severe mental disorders.

Concordance Rate

Concordance Rate is a measurement used in genetics and psychology to indicate the likelihood that two individuals, often twins, will both show a particular trait or disorder.

Monozygotic Twins

Twins that develop from a single fertilized egg, sharing 100% of their genetic material and often referred to as identical twins.

Schizophrenia

A chronic mental disorder characterized by delusions, hallucinations, disorganized speech, and impaired cognitive ability.