An S Corporation May Not Amortize Its Organization Expenses

question 144

True/False

An S corporation may not amortize its organization expenses.

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Definitions:

Statute of Limitations

The statute of limitations is a law that sets the maximum time after an event within which legal proceedings may be initiated.

Residential Pesticide

Chemical substances used in homes or in domestic environments to control, deter, or eliminate pests.

Federal Statute

A law enacted by the national government of a country, which applies throughout the country and supersedes state or local laws in areas of federal jurisdiction.

Federal Court

Courts established by the federal government of a country that have jurisdiction over disputes involving federal laws, constitutional matters, and other cases specifically designated by federal statutes.