AIRE Was Initially Formed as an S Corporation Three Years

question 123

Essay

AIRE was initially formed as an S corporation three years ago. AIRE has four equal shareholders, Adam, Irene, Raymond, and Ethan. Raymond and Ethan would like to terminate the S election. However, Adam and Irene are opposed to the idea. Can Raymond and Ethan make a voluntary election to terminate the S election without the consent of Adam and/or Irene? Explain.

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Definitions:

Brain Injury

Damage to the brain, whether traumatic or non-traumatic, that impairs its function and is caused by an external physical force or internal factors.

Living Will

A legal document that outlines a person’s desires regarding their medical treatment in circumstances in which they are no longer able to express informed consent.

Heroic Measures

Extreme medical procedures taken to preserve life in situations where recovery is unlikely.

Nonmaleficence

Nonmaleficence is an ethical principle in medicine that means to do no harm or inflict the least harm possible to reach a beneficial outcome.