5. T corporation, a calendar year taxpayer, is formed on December 10, 20X8. It first has shareholders on December 10, 20X8. It first acquires assets on December 29, 20X8, and begins doing business January 17, 20X9. T co. elects S status on February 25, 20X9.

When does R co.s first S tax year begin?

6. If shareholders in an S corp., a calendar year taxpayer, owning 83 percent of the S corporation stock consent on March 2, 20X2 to revoke the S election and declare the revocation effective date to be December 1, 20X2, when is the S election terminated?

When does the S corporations tax year end?