Shea Is a 100% Owner of Mets Corporation (An S

question 127

Short Answer

Shea is a 100% owner of Mets Corporation (an S corporation). Mets is a calendar year taxpayer. On February 16, 2016, Mets filed an election to terminate its S election. Assuming Mets does not specify an effective date for the termination, what is the effective date of the termination?

---

Definitions:

Increased Hunger

Describes a physiological state where there is an enhanced desire or need to consume food.

Cognitive Tasks

Mental activities that require thinking, processing, and understanding, such as problem-solving, decision-making, and memory recall.

Social Cues

Nonverbal indicators that guide social interactions, such as facial expressions, body language, and tone of voice.

Self-Regulation

The technique individuals use to regulate their cognitive activities, emotional states, and conduct in order to accomplish enduring aims.