On June 1, year 1, Jasper Corporation's S election was involuntarily terminated. What is the earliest Jasper

Question:

On June 1, year 1, Jasper Corporation's S election was involuntarily terminated. What is the earliest Jasper may be taxed as an S again? Are there any exceptions to the general rule? Explain.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...