How to elect s status for first tax year, Taxation

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How to elect s status for first tax year

Electing S Corporation Status

Response to the following problem:

A newly formed corporation issues its first shares of stock on June 1. On July 15, it purchases its first asset, and on August 1, it begins business operations. If the corporation wants to elect S status for its first tax year, by what date must it file a valid S election with the IRS?

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Taxation: How to elect s status for first tax year

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Taxation: How to elect s status for first tax year

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