An S Corporation Can Make a Voluntary Revocation of an S

question 68

True/False

An S corporation can make a voluntary revocation of an S election if shareholders holding more than 25 percent of the S corporation stock (including nonvoting shares) agree.
The shareholders must hold more than 50 percent of the stock to make a voluntary revocation.

---

Definitions:

Guillain-Barré Syndrome

A rare disorder where the body's immune system attacks the nerves, leading to muscle weakness and sometimes paralysis.

Cerebral Spinal Fluid

A clear, colorless body fluid found in the brain and spinal cord, serving as a cushion and delivering nutrients.

Protein Concentration

The amount of protein present in a specific volume of a solution, often measured to assess health conditions or the nutritional value of foods.

Lorazepam

A medication used in the treatment of anxiety disorders and for short-term relief of the symptoms of anxiety.