XYZ Was Formed as a Calendar-Year S Corporation with Xavier

question 16

Short Answer

XYZ was formed as a calendar-year S corporation with Xavier, Yolinda, and Zach as equal shareholders. On September 15, 2016, XYZ's S election was terminated after Zach sold his XYZ shares (one-third of all shares) to his solely owned C Corporation Zach, Inc. Absent permission from the IRS, what is the earliest date XYZ may again elect to be taxed as an S corporation?

---

Definitions:

Leadership Effectiveness

The degree to which a leader is able to achieve desired outcomes, inspire followers, and adapt to changing environments.

Affective Measures

Assessments used to evaluate emotional states, attitudes, and feelings towards particular subjects or scenarios.

Performance Measures

Are metrics or standards used to evaluate the efficiency, effectiveness, and productivity of an individual, department, or an organization.

Big Five Dimensions

Five broad domains of personality traits: Openness, Conscientiousness, Extraversion, Agreeableness, and Neuroticism, used to describe human personality.