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If Annie and Andy (Each a 30% Shareholder in an S

question 101

Multiple Choice

If Annie and Andy (each a 30% shareholder in an S corporation) file a revocation on March 18, 2016 to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?


Definitions:

ADR

Alternative Dispute Resolution, a range of processes and techniques to resolve disputes outside the judiciary process, including mediation and arbitration.

Employee

An individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties.

Win-Lose Orientation

A competitive viewpoint where one party's gain is seen as another's loss, often leading to conflict and adversarial relationships.

Negotiators

People who engage in discussions with the aim of reaching an agreement or resolving a dispute between parties.

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