Question

Assuming that all other requirements are met, a corporation may elect to be treated as an s corporation under the internal revenue code if it has:

Answer 1

Assuming that all other requirements are met, a corporation may elect to be treated as an s corporation under the internal revenue code if it has seventy-five or fewer stockholders.

S corporations are ordinary business corporations that has between 1 and 100 shareholders and elect to pass corporate income, losses, deductions, and credit through to their shareholders for federal tax purposes.