If an S Corporation Has C Corporation E & P

question 1

Short Answer

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

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Definitions:

Data

Quantitative or qualitative values that represent information or variables, often used for analysis or to make decisions.

Checkoff Provision

Contract provision under which the employer, on behalf of the union, automatically deducts union dues from employees' paychecks.

Union Member

An individual who belongs to an organized group representing workers in negotiations with employers over wages, benefits, and working conditions.

Hired

The process of being employed by an organization or individual after the successful completion of an application or interview process.