Vassy, Inc., a calendar-year C corporation, filed a proper S corporation election on February 15, 20X4....
Vassy, Inc., a calendar-year C corporation, filed a proper S corporation election on February 15, 20X4. Then it filed a revocation on March 15, 20X4. As a result, which of the following statements is true regarding Vassy, Inc.?
| A. | It will be an S corporation for 20X4 only. | ||
| B. | It will be an S corporation for one month during 20X4. | ||
| C. | It will be an S corporation from January 1, 20X4, through February 15, 20X4. | ||
| D. | It will not be an S corporation for 20X4. |
Homework Answers
As the revocation is filled in the 15th march 2014, it will continue for the entire year.
Therefore, Option D is correct.
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