67. Which, if any, of the following can be eligible shareholders of an S corporation?
68. Which, if any, of the following can be eligible shareholders of an S corporation?
69. Which statement is correct with respect to filing an S election?
Form 2553 must be filed.
All shareholders must consent.
The election may be filed in the previous year.
An extension of time is available for filing Form 2553.
All of the above statements are correct.
70. Several individuals acquire assets on behalf of Skip Corporation on May 28, 2013, purchased assets on June
3, 2013, and began business on June 11, 2013. They subscribe to shares of stock, file articles of incorporation
for Skip, and become shareholders on June 21, 2013. The S election must be filed no later than 2 1/2 months
71. The maximum number of shareholders in an S corporation is: