Once a Corporation Properly Elects to Be a Subchapter S

question 63

True/False

Once a corporation properly elects to be a Subchapter S corporation,it cannot terminate its election for five years.

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Definitions:

Countercyclical Payment

A fiscal mechanism used to reduce the economic fluctuations by providing economic support during downturns and less support during growth periods.

Price Supports

Government interventions to maintain the market price of a commodity or product at a certain level by buying excess supply or instituting price floors.

Government

The organization or system through which a community, state, or nation is governed, often involving regulations and public services.

2014 Agriculture Act

is a piece of legislation in the United States that made changes to food, agriculture, rural development, and nutrition policies.