4. Which of the following is not required for a corporation to be classified as a small...

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4. Which of the following is not required for a corporation to be classified as a small business corporation and be eligible to make an S corporation election in 2010?

a. The corporation must have 100 or fewer shareholders.

b. The corporation must be a domestic corporation.

c. The corporation must have both common and preferred stock.

d. The shareholders of the corporation must not be nonresident aliens.

e. All shareholders must be either individuals, estates, certain trusts, or financial institutions.
LO 11.6

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Income Tax Fundamentals 2011

ISBN: 9780538469197

29th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller

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